Modern ships boosted Sovcomflot in first quarter
Russian tanker carrier Sovcomflot is still riding high in the booming tanker market as the carrier delivered an improved operating profit and bottom line in the first three months of the year. Continued fleet modernization contributed to the growth, notes CEO.
by DANIEL LOGAN
Tanker carriers in the lucrative but increasingly volatile tanker market continue to reap the rewards of the low oil price, and Russian state-owned carrier Sovcomflot is no exception as the company can look back on a first quarter that brought improvements throughout the interim report.
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