Sovcomflot mulitplies earnings and expands fleet

Sovcomflot boosted both top and bottom lines markedly in 2019. The Russian tanker operator says its financial results are closely tied to bank credit enabling fleet expansion.

Sovcomflot CEO Igor Tonkovidov. | Photo: Sovcomflot

by MATHIAS BLÆDEL LORENZEN

Russian state-owned LNG and tanker shipping company Sovcomflot surged in profitability during 2019, the company's annual financial statement shows.

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