Sovcomflot

The history of Sovcomflot begins with a letter from the Minister of the Navy of the USSR T. B. Guzhenko to the Chairman of the Council of Ministers of the USSR A.N. Kosygin dated March 23, 1973 with a request to allow the Ministry to independently acquire new and used vessels abroad under the long-term leasing scheme, or bareboat charter . Permission was granted and over the next 15 years, under a contract for chartering a vessel without crew, more than 100 vessels were chartered, the first of which were two dry cargo vessels with a deadweight of 40,000 tons - Sovfraht and Sovinflot. The experience gained during the operation of bareboat ships and conducting commercial operations beneficial to the USSR led to the organization in 1976 of the Monetary Revolutionary Fund for Commercial Operations under the USSR Ministry of the Navy. Later, in 1988, on its basis, the joint-stock commercial enterprise “Soviet Commercial Fleet” (AKP Sovcomflot) was organized ^[5] , which was a unique phenomenon for the centralized Soviet economy. AKP Sovcomflot was established by a resolution of the Council of Ministers of the USSR and vested with the right to work in foreign markets. The founders of Sovcomflot were the USSR Ministry of the Navy and the country's leading shipping enterprises. By 1990, the total fleet deadweight of this company amounted to 1.8 million tons.

After the collapse of the USSR, Sovkomflot AKP was transformed in 1995 into an open joint-stock company Sovkomflot OJSC, 100% of the shares of which were transferred to federal ownership.

On June 20, 2007, Russian President Vladimir Putin signed a decree “On the Open Joint-Stock Company Modern Commercial Fleet” ^[6] . On the basis of OJSC Modern Commercial Fleet (Sovcomflot) and OJSC Novorossiysk Shipping Company ( Novoship ) transport holding in order to consolidate state assets in the field of maritime cargo transportation A 50.34% stake in Novorossiysk Shipping Company (Krasnodar Territory), owned by the state, was made as a contribution of the Russian Federation to the authorized capital from rytogo Joint Stock Company "Modern Commercial Fleet" (Saint-Petersburg). In this case, "Novoship" retained legal independence and continued to pay taxes to the budget of the Krasnodar Territory. It was expected that this association will create a transportation holding company that is able to enter the top five largest tanker carriers of the world ^[7] .

Getting New Ships

In July 2010, Sovcomflot received the Aframax type tanker Olympic Prospect. The Olimpiysky Prospekt tanker with a deadweight of 114.1 thousand tons has an ice class 1B (according to international classification), designed for transportation of crude oil; vessel length - 250 m, width - 44 m, maximum draft - 15 m. The vessel was designed to operate in the Baltic region of Russia, including for the transportation of hydrocarbons from the ports of Primorsk and Ust-Luga, fully meets all national and international safety requirements Classification Society DNV ^[8] .

In January 2013, two new SKF vessels entered service : Aframax type tanker Anatoly Kolodkin and bulk carrier Yakutia NS. Anatoly Kolodkin is the third vessel built under an agreement between Sovcomflot OJSC and Zvezda-DSME shipyard, a joint venture of the United Shipbuilding Corporation (Russia) and Daewoo Shipbuilding & MarineEngineering (Republic of Korea). Ice-class 1B NS Yakutia type Panamax bulk carrier is part of the series ordered by SKF in the summer of 2010, and the first vessel of the NS Energy series replenished the fleet of Sovcomflot Group on November 19, 2012 .

In March 2017, the Christoph de Margerie class Yamalmax LNG tanker was commissioned. ^[9]

100% of the company's shares are owned by the state.

The chairman of the board of directors is Ilya Klebanov (since October 2011 ^[10] ), and the general director is Sergey Frank .

Sovcomflot Group of Companies (SCF) is a fully integrated corporate structure - from ship ownership to the implementation of commercial and technical management, and provides its customers with services for the transportation of energy resources, including:

• operating with a tanker fleet in the segments “Suezmax” (with a deadweight of 120-200 thousand tons) and “Aframax” (with a deadweight of 80-120 thousand tons);
• fleet operation of product tankers (deadweight 17-47 thousand tons) and chemical tankers (deadweight 5-20 thousand tons);
• transportation of liquefied natural and petroleum gas;
• operating vessels of high ice class;
• logistic support for the development of offshore fields (shuttle oil transportation in ice conditions, services for the operation of floating oil storage facilities), services of supply vessels, response to oil and oil spills;
• the provision of port services, including the management of oil terminals and the operation of tugboats;
• technical management of own vessels and vessels of third parties.

Currently, the main organizations in Sovcomflot Group of Companies (SKF) are:

• PJSC Sovcomflot (Public Joint-Stock Company Modern Commercial Fleet), St. Petersburg. Management of Sovcomflot group companies, development of long-term industrial projects in the field of maritime energy transportation, logistics
• Novoship OJSC (Novorossiysk Shipping Company Open Joint-Stock Company), Novorossiysk. Technical management of the tanker and dry cargo fleet, training and manning of ships
• Unicom Management Services (Cyprus) Limited, Limassol. Technical management of the tanker and dry cargo fleet, training and manning of ships
• Sovcomflot (UK) Ltd., London. Commercial fleet management of Sovcomflot group of companies, ship chartering
• CJSC Rosnefteflot, Moscow. Technical and commercial management of the towing fleet, the provision of port services, including the management of oil terminals, the provision of agency and pilot services
• Sovcomflot Varandey LLC, St. Petersburg. Fleet operation of Arctic shuttle tankers as part of a long-term project for the transportation of oil from the Varandey terminal
• "AT. V. Marpetrol, S.A. ”, Madrid. Fleet operation of chemical tankers and asphalt tankers
• SCF Swyer Offshore Petit. Limited ”, Singapore. Technical management and operation of supply vessels
• Sovcomflot (Cyprus) Limited, Limassol. Financial accounting and preparation of consolidated financial statements in accordance with IFRS, execution of functions of a payment center of Sovcomflot group of companies

As of December 31, 2009, the Sovcomflot fleet totaled 144 vessels with a total deadweight of over 10 million tons. At the beginning of 2013, Sovcomflot operated 158 vessels with a total deadweight of 12.3 million tons. The company’s portfolio of orders also includes 11 vessels with a deadweight of 1.3 million tons. According to Sovcomflot, the average age of the operated tanker fleet is 8.0 years (with a world average indicator - 12 years ). 5682 sailors and 2213 people of coastal personnel work in Sovcomflot Group of Companies.

The strategic activities of Sovcomflot Group are:

• participation in industrial projects for the transportation of liquefied natural (LNG) and petroleum gas (CIS);
• specialization in ice-class vessels capable of operating in the Baltic and in the Far North, including shuttle services in the Arctic.

The company's revenue under IFRS in 2008 amounted to $ 1.63 billion, net profit - $ 406.2 million ^[11] .

At the end of 2018, Sovcomflot received $ 11.9 million in net profit under IFRS against a loss of $ 106.2 million in 2017. The company's net loss under IFRS decreased by 2.5 times and amounted to $ 45.6 million ^[12] .

The global market of supply and demand for services for the transportation of energy carriers by sea is unstable and volatile, which cannot but affect the performance of individual companies. In 2011, Tanker Shipping Review magazine ranked Sovcomflot in sixth place in the ranking of the 30 largest tanker companies in the world, with the note that the company ranks first in transportation in the northern latitudes. ^[13] According to the annual ranking of the 10 leading tanker companies in the world of the German Institute for Merchant Shipping and Logistics (Institut für Seeverkehrswirtschaft und Logistik - ISL), on January 1, 2012 Sovcomflot took second place after the Japanese company Mitsui OSK Lines (rating compiled by based on Clarkson Research Services Tanker Register). ^{[14] The} English Lloyd's List announced in November 2012 that Sovcomflot took first place in fleet deadweight among the largest tanker carriers. ^[fifteen]

• Company official website

• United Shipbuilding Corporation
• Sovcomflot on Twitter