S&P and Fitch have recently upgraded the rating of PAO Sovcomflot (SCF Group) to ‘BBB-'. According to the agencies, the company is also well placed to maintain its leading positions in the global crude oil, petroleum products, and gas shipping sectors, underpinned by its ties with energy companies and record of reliable execution.
The report also marks Sovcomflot’s reduced debt and enhanced financial flexibility.
SCF is the only global shipping company engaged in energy transportation which is rated by the three leading rating agencies (S&P, Fitch and Moody's). Most of other companies operating in similar segments (NYK, MOL, BW, Teekay, Stena) are below the investment grade.
PAO Sovcomflot is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas production. As of the date of this release, the Group’s fleet comprises 145 vessels with a total deadweight of over 12.6 million tonnes, including vessels owned through joint ventures. More than 80 vessels have an ice class.
SCF is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The Group is headquartered in St. Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.
