283:
38:
401:
347:
and the United States has prohibited
Sovcomflot from raising funds on American capital markets. The American sanctions made it very difficult for Sovcomflot to get insurance for its vessels and cargoes. This has led many Asian customers to cancel orders for Sokol, one of three main export-grade crude
278:
authorized the merger of
Sovcomflot and Novoship; the state 'invested' its 50.34% share in Novoship in Sovcomflot capital. The legal procedures were completed in early 2008 and in January 2008 Sovcomflot offered a stock buyout to the remaining minority shareholders of Novoship. The integration of
327:
On 24 February 2022 the U.S. Department of the
Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Sovcomflot under E.O. 14024 for being owned or controlled by, or having acted or purposed to act for or on behalf of, directly or indirectly, the GoR. Subsidiary companies were also
264:), a then one-of-a-kind state-owned corporation with special authorization by the USSR Council of Ministers. By 1990 its assets reached a gross tonnage carrying capacity of 1,800,000 DWT. A further reorganization in June 1995 confirmed the special status of
221:'Modern Commercial Fleet') is Russia's largest shipping company, and one of the global leaders in the maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil & gas production.
357:
reported that
Sovcomflot intended to sell up to a third of its fleet in order to generate cash to pay off creditors. Sovcomflot called the report "exaggerated" and "rumours", and said it was merely selling off old facilities and vessels.
1055:
414:
As of May 2022, the company owned 122 vessels. The fleet includes 50 crude oil tankers, 34 oil products tankers, 14 shuttle tankers, and 10 natural gas carriers. Sovcomflot also owns 10 icebreakers.
237:
scheme for purchasing new and used foreign-built vessels. In 1976 the
Ministry of Merchant Marine instituted a special fund and the newly formed corporation used it to acquire two 40,000
365:
announced it would reinsure
Russian ships including Sovcomflot's when the Russian shipping industry was left high and dry by the 2022 sanctions. It came to light on 13 June that
392:. The sanctions include freezing U.S. assets of Sovcomflot and designating 14 of its crude oil tankers, while allowing temporary transactions to offload oil from these vessels.
535:
operations), Andrey
Khlunev (accounting), Nikolay Kolesnikov (finance), Aleksandr Kurtynin (audit), Callum Ludgate (charter and gas), Vladimir Mednikov (law), Sergey Popravko (
1025:
825:
1045:
1040:
916:
799:
542:
As of August 2019, Frank was still CEO, while
Nikolay Kolesnikov was CFO and Igor Tonkovidov was chief operating officer and chief technical officer.
750:
381:
735:
901:
388:(OFAC) imposed sanctions on Sovcomflot, targeting its revenue from oil sales to further restrict Russia's financial capabilities in light of its
679:
842:
1020:
458:
362:
233:
decreed the formation of a special shipping corporation, separated from the regular state-owned marine fleet, that could use a long-term
1030:
120:
531:
from
October 2004 until at least 2012. The Management Board also included as of 2012: Sergey Burima (operations), Nicholas Fairfax (
887:
989:
385:
332:
1035:
377:, a subsidiary of Sovcomflot. The CEO said on 18 June that Sovcomflot had insured all its cargo vessels with Russian insurers.
279:
Novoship assets into
Sovcomflot operations continues as of August 2008 (fleet management and sales were unified in July 2008).
873:
713:
700:"U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs"
859:
370:
294:
775:
482:
374:
1050:
48:
230:
967:
282:
494:
170:
103:
373:
announced that it would provide safety certification for several dozen ships managed by Dubai-based
389:
272:
216:
506:
514:
486:
308:
238:
242:
439:
234:
942:"U.S. Treasury Designates Russian State-Owned Sovcomflot, Russia's Largest Shipping Company"
470:
207:
156:
76:
106:(Member of the Board of Directors, President and Chief Executive Officer of PAO Sovcomflot)
684:
502:
408:
941:
699:
595:
593:
591:
589:
587:
510:
466:
340:
275:
1014:
498:
474:
462:
300:
826:"EXCLUSIVE Russia's state-owned RNRC to reinsure Russian oil shipments, sources say"
646:
524:
518:
490:
427:
98:
551:
435:
422:
The company is registered in Saint-Petersburg and has representative offices in
366:
353:
473:, chief of staff of Presidential Administration. Other directors were in 2007:
312:
304:
132:
37:
622:
888:"Reuters : India provides safety certification to Russian oil tankers"
600:
17:
843:"Russia's state-owned RNRC to reinsure Russian oil shipments, sources say"
400:
478:
447:
431:
316:
58:
876:. Capital Link International Holdings Ltd. Asia Financial. 23 June 2022.
348:
oils sold by Russia. On 20 April, New Zealand also announced sanctions.
680:"Russian tanker sails through Arctic without icebreaker for first time"
570:
457:
Sovcomflot board of directors is usually headed by executives from the
736:"UK Sanctions on Sovcomflot Create New Challenge for Russia's Tankers"
1056:
Russian entities subject to U.S. Department of the Treasury sanctions
658:
536:
532:
443:
423:
344:
751:"Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade"
749:
Cheong, Serene; Cho, Sharon; Chakraborty, Debjit (April 25, 2022).
601:"2020 Full Year Consolidated Financial Statements under IFRS (USD)"
571:"2017 Full Year Consolidated Financial Statements under IFRS (USD)"
917:"US imposes sanctions on Russia's leading tanker group Sovcomflot"
451:
399:
281:
144:
990:"Frank 'cautiously optimistic' as Sovcomflot returns to profit"
874:"India Sails to Rescue of Russian Oil Tankers Hit by Sanctions"
195:
1005:
902:"Sovcomflot fleet fully covered by Russian insurers, CEO says"
528:
800:"Russia's Sovcomflot says it plans to sell part of its fleet"
860:"India provides safety certification to Russian oil tankers"
336:
915:
Gardner, Timothy; Psaledakis, Daphne (24 February 2024).
369:
had insured the Sovcomflot fleet. On 23 June 2022 the
339:
imposed sanctions on Sovcomflot. On March 24, 2022, the
343:
followed suit. Sovcomflot has also been sanctioned by
101:(Chairman of the Board of Directors of PAO Sovcomflot)
212:ПАО «Совкомфлот», ПАО «Современный коммерческий флот»
714:"EU introduces additional sanctions against Russia"
191:
177:
166:
154:
142:
130:
118:
110:
92:
82:
72:
64:
54:
44:
845:. Hellenic Shipping News Worldwide. 13 June 2022.
465:, long-time chairman of the board and an aide to
256:In 1988 these operations were reorganized as the
319:in South Korea in the record time of 22 days.
8:
30:
794:
792:
29:
862:. Ship Technology. Reuters. 23 June 2022.
890:. eBlue Economy. Reuters. 23 June 2022.
854:
852:
837:
835:
603:. Sovcomflot. 15 March 2021. p. 63
562:
1026:Shipping companies of the Soviet Union
968:"Sovcomflot website. Management board"
303:owned by Sovcomflot, became the first
459:Presidential Administration of Russia
331:On 15 March 2022, as a result of the
114:$ 1.44 billion (2017; 2020)
7:
1046:Government-owned companies of Russia
363:Russian National Reinsurance Company
1041:Companies based in Saint Petersburg
776:"Russia Sanctions Regulations 2022"
623:"Rossiyskaya Gazeta, June 21, 2007"
659:"Nash Novorossiysk, July 24, 2008"
25:
386:Office of Foreign Assets Control
333:2022 Russian invasion of Ukraine
36:
946:U.S. DEPARTMENT OF THE TREASURY
382:U.S. Department of the Treasury
150:$ 7.74 billion (2020)
992:. PAO Sovcomflot. Trade Winds.
988:Dixon, Gary (29 August 2019).
258:Sovcomflot Joint-Stock Company
162:$ 4.1 billion (2020)
138:$ 267 million (2020)
126:$ 491 million (2020)
1:
527:controlled the operations as
1021:Shipping companies of Russia
311:, completing a journey from
521:(Chief Executive Officer).
371:Indian Register of Shipping
268:as a state-owned business.
1072:
307:to complete the so-called
1031:Tanker shipping companies
380:On 23 February 2024, the
211:
35:
904:. Reuters. 18 June 2022.
828:. Reuters. 10 June 2022.
27:Russian shipping company
755:Bloomberg Business News
661:. Nnvrsk.ru. 2008-07-24
375:SCF Management Services
49:State-owned corporation
1036:Gas shipping companies
411:
296:Christophe de Margerie
290:
288:Christophe de Margerie
231:Government of the USSR
647:RBC Daily, 11.01.2008
403:
285:
361:On 10 June 2022 the
171:Government of Russia
702:. 24 February 2022.
629:. Rg.ru. 2007-06-21
390:invasion of Ukraine
293:In August 2017 the
273:President of Russia
179:Number of employees
32:
948:. 23 February 2024
515:Alexander Tikhonov
487:Alexander Misharin
469:, was replaced by
412:
309:Northern Sea Route
291:
688:. 24 August 2017.
627:Российская Газета
440:Yuzhno-Sakhalinsk
235:bare boat charter
220:
201:
200:
16:(Redirected from
1063:
1006:Official website
994:
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619:
613:
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581:
579:
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471:Sergey Naryshkin
351:On May 5, 2022,
215:
213:
196:Official website
159:
147:
121:Operating income
77:Saint Petersburg
40:
33:
21:
1071:
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1062:
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970:. Sovcomflot.ru
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716:. 17 March 2022
712:
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685:TheGuardian.com
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503:Aleksey Sokolov
495:Charles E. Ryan
461:. In July 2007
420:
409:Fawley Refinery
398:
325:
286:SCF LNG tanker
227:
180:
155:
143:
135:
123:
104:Igor Tonkovidov
102:
95:
85:
28:
23:
22:
15:
12:
11:
5:
1069:
1067:
1059:
1058:
1053:
1051:Russian brands
1048:
1043:
1038:
1033:
1028:
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1013:
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1009:
1008:
1001:
1000:External links
998:
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511:Morgan Stanley
467:Vladimir Putin
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407:oil tanker at
397:
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341:United Kingdom
324:
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276:Vladimir Putin
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806:. May 6, 2022
805:
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539:operations).
538:
534:
530:
526:
522:
520:
516:
512:
508:
504:
500:
499:Deutsche Bank
496:
492:
488:
484:
483:Yury Medvedev
480:
479:Vneshtorgbank
476:
475:Andrey Kostin
472:
468:
464:
463:Igor Shuvalov
460:
455:
453:
449:
445:
441:
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320:
318:
315:in Norway to
314:
310:
306:
302:
298:
297:
289:
284:
280:
277:
274:
271:In June 2007
269:
267:
263:
259:
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245:transports –
244:
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50:
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43:
39:
34:
19:
983:
972:. Retrieved
962:
950:. Retrieved
945:
936:
924:. Retrieved
920:
910:
896:
882:
868:
820:
808:. Retrieved
803:
779:. Retrieved
770:
758:. Retrieved
754:
744:
730:
718:. Retrieved
708:
694:
683:
674:
663:. Retrieved
653:
642:
631:. Retrieved
626:
617:
605:. Retrieved
574:. Retrieved
565:
541:
525:Sergey Frank
523:
519:Sergey Frank
507:Elena Titova
491:Gleb Nikitin
456:
428:Novorossiysk
421:
413:
405:Moscow Stars
404:
379:
360:
352:
350:
330:
328:sanctioned.
326:
295:
292:
287:
270:
265:
261:
257:
255:
250:
246:
229:In 1973 the
228:
203:
202:
184:
157:Total equity
145:Total assets
99:Sergey Frank
73:Headquarters
45:Company type
952:26 February
926:26 February
781:11 February
552:Sovtorgflot
436:Vladivostok
367:Ingosstrakh
354:Lloyds List
84:Area served
18:Grand Aniva
1015:Categories
974:2012-03-08
720:8 February
665:2012-03-08
633:2012-03-08
576:28 October
418:Management
313:Hammerfest
305:cargo ship
266:Sovcomflot
204:Sovcomflot
133:Net income
94:Key people
31:Sovcomflot
760:April 26,
323:Sanctions
251:Sovinflot
247:Sovfracht
243:dry cargo
88:Worldwide
607:15 March
546:See also
448:Limassol
432:Murmansk
317:Boryeong
59:Shipping
55:Industry
921:Reuters
804:Reuters
225:History
219:
208:Russian
192:Website
183:7,700 (
173:(82.8%)
111:Revenue
65:Founded
810:May 6,
537:Cyprus
533:London
444:London
424:Moscow
345:Canada
301:tanker
558:Notes
452:Dubai
396:Fleet
167:Owner
954:2024
928:2024
812:2022
783:2023
762:2022
722:2023
609:2021
578:2018
497:(of
450:and
335:the
299:, a
249:and
217:lit.
185:2019
68:1988
529:CEO
513:),
501:),
481:),
384:’s
262:SCF
239:DWT
1017::
944:.
919:.
851:^
834:^
802:.
791:^
753:.
682:.
625:.
586:^
517:,
505:,
493:,
489:,
485:,
454:.
446:,
442:,
438:,
434:,
430:,
426:,
337:EU
253:.
241:,
214:,
210::
977:.
956:.
930:.
814:.
785:.
764:.
738:.
724:.
668:.
636:.
611:.
580:.
509:(
477:(
260:(
206:(
187:)
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
