Company’s profile

Public Joint-Stock Company Sovcomflot is Russia’s largest shipping company, as well as a global leader in the maritime transportation of hydrocarbons and the servicing of offshore oil and gas exploration and production.
Structure of the SCF Group fleet includes five operating segmentsThe breakdown into operating segments is provided in accordance with the IFRS financial statements..
Supply and servicing of off-shore platforms, manage-ment of terminals, shuttle transportation

10 Aframax shuttle tankers (and 2 more under construction)

5 Panamax shuttle tankers

4 MR shuttle tankers

10 multifunctional ice-breaking vessels

Transportation of liquefied natural and petroleum gas (LNG and LPG)

11Including the fleet of joint ventures: 4 LNG carriers. LNG carriers (and 19Including 15 vessels, one of which is being built to order from SCF Group and 14 to order from SMART LNG, LLC, a joint venture between Sovcomflot Group and NOVATEK. The construction of these 15 vessels is financed with the participation of VEB.RF. The number also includes the LNG carrier SCF Timmerman commissioned on 15 January 2021 under construction)

4 LPG carriers

Crude oil transportation

2 VLCC tankers

13 Suezmax tankers

38 Aframax tankers (and 2 more under construction

Oil products transportation

7 LR II tankers

9The fleet of joint ventures. LR I tankers

25 MR tankers (and 3 under construction)

4 Handysize tankers

Offshore seismic exploration, bulk cargo transportation

1 seismic research vessel

2 Panamax bulkers

More detailed information can be found in the Composition of the fleet and Investment activities sections of this Annual Report and on the SCFwebsite in the List of vessels section.

Sovcomflot Group operates vessels in segments which are in demand by leading Russian and international oil and gas companies. SCF Group is involved in servicing large energy projects in Russia, including Yamal LNG, Arctic LNG 2, Sakhalin-1, Sakhalin-2, Varandey, Prirazlomnoye, Novy Port, and abroad: Tangguh (Indonesia), and Baffinland (Canada).

Our in-house capabilities and set of advanced technologies, especially related to operations in ultra-harsh environments and challenging ice conditions are unique and enable the Group to satisfy various requirements of our customers and to provide them with a safe, reliable and efficient transport service.

Commercial units of Sovcomflot Group focus on work with major oil & gas and trading companies. Tonnage is chartered out on a competitive basis under the principles of equal conditions and opportunities for all customers. This results in a balanced customer base structure, with the 10 largest customers accounting for less than 80% of revenue.

Share of TCE revenue accounted for by first tier oil and gas and trading companies, (%)

Major charterers of Sovcomflot Group vessels by share of TCE revenue

Sakhalin Energy
Exxon Mobil
Exxon Neftegas Limited
Yamal LNG
Petro China
Gunvor Group

Sovcomflot Group cooperates with both foreign and Russian customers. In the reporting year the Group continued to meet Russian foreign trade requirements: its vessels participated in transportation of oil and petroleum products from different Russian ports, including Novorossiysk, Murmansk, Primorsk, Ust-Luga, Prigorodnoye, and others. In addition, the Group’s vessels were used as floating storage units to facilitate the transhipment of export oil and petroleum products from river tanker vessels to sea tankers.

In 2020 the Group carried 64 million tonnes of Russian export and transit cargo exported through Russia, which is 2.6% more than in 2019.