• 2016 November 21

    Sergey Frank, President and CEO of PAO Sovcomflot

    On SCF Group’s results in 3Q’16 and in 9M’16

    - Despite the tanker market conditions being challenging in the third quarter, with spot rates under notable pressure – for the key tanker classes, the rates have dropped by more than a half year-on-year – Sovcomflot achieved good results for the period. We have consolidated further our leading positions in several segments of the global energy shipping market, and have also expanded our long-term time-charter portfolio.

    During the third quarter, we also remained alert to opportunities to add vessels to our fleet that represent a good strategic fit. Over the period we acquired eleven modern and well maintained vessels, that help enhance the overall performance of our fleet and contribute to achieving SCF’s strategic goals.