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.

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