Sovcomflot predicts continued tanker recovery later this year

Russian tanker company Sovcomflot returned to black figures in the first quarter, and the company's CEO expects continual improvements on the tanker market toward the end of 2019.

Photo: Sovcomflot

A stronger tanker market at the start of the year brought Sovcomflot back to positive figures.

The Russian tanker company finished the first quarter with a profit of USD 70.1 million, a significant improvement from a deficit of USD 16.1 million in the same period of 2018, shows the interim report.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs