In January-September 2007, net profit of Sovcomflot OJSC under IFRS grew by 69%, year-on-year, to $209 million, RBC reports. In the reported period, the Company’s proceeds grew by 22%, year-on-year, to $464 million. Asset value totaled $2.739 billion. According to the source, the share of proceeds falling on direct agreements with largest Russian and international oil and gas companies exceeds 90%.
In the third quarter of 2007, Sovcomflot took delivery of large-capacity 1A ice class tankers Aleksei Kosygin and Prisco Alcor (under commercial management of Sovcomflot). These Baltimax type vessels with total deadweight exceeding 300,000 tonnes were designed and built according to all international safety requirements for all-the-year-round navigation in the port of Primorsk. In the forth quarter of 2007, the company’s fleet will get five new vessels including LPG carriers (Grand Elena and Grand Aniva) for Sakhalin-II project and three ice strengthened product carriers (SCF Pechora, SCF Yenisei and SCF Amur) for all-the-year-round transportation of oil products from the ports of the North-Western and Far-Eastern regions of Russia. On October 26, extra meeting of the company’s shareholders approved the increase of the company’s authorized to the size required for consolidation of Sovcomflot and Novoship. According to Igor Shuvalov, Chairman of Sovcomflot BOD, the consolidation is to be completed in 2007.