• 2018 November 19

    Sergey Frank, President & CEO of PAO Sovcomflot

    On the Group’s results

    The Group returned to positive numbers in Q3 2018 with continued growth in SCF’s industrial, fixed income businesses. The Offshore and Gas divisional performances remain at the core of the Group’s profitability and earnings performance, contributing now around 60% of Group’s net revenues. The green shoots of recovery in the conventional tanker market and in the larger crude sector in particular, are encouraging for Q4 2018 and may bring a welcome earnings boost on top of that provided by the Gas and Offshore divisions. Of particular note, we achieved a key milestone in our drive to innovate within the tanker industry with the delivery and the first LNG fuelling of Gagarin Prospect in partnership with Shell and the project is an excellent example of SCF partnering its client to harness technological innovation to provide cleaner, safer and more efficient maritime transportation services.

    From the statement of PAO Sovcomflot




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