Company Overview of OAO Sovcomflot
OAO Sovcomflot, through its subsidiaries, owns and operates ships worldwide. The company operates through five segments: Crude Oil Transportation, Oil Product Transportation, Gas Transportation, Offshore Development services, and Other. It is engaged in the transportation of crude oil, oil products, refined petroleum products, chemicals, gas, coal, and seismic vessels, as well as liquefied natural gas (LNG) and liquefied petroleum gas (LPG). The company also offers logistical support for offshore developments; and floating storage and offloading unit management services. As of December 31, 2013, it had 61 crude oil carriers, 48 petroleum tank carriers, 2 LNG carriers, 4 LPG carriers, 13 shut...
6 Gasheka Street
Founded in 1988
Key Executives for OAO Sovcomflot
Chairman of Executive Board
Senior Executive Vice-President and Member of Executive Board
Compensation as of Fiscal Year 2014.
OAO Sovcomflot Key Developments
OAO Sovcomflot Signs USD 319 Million for 10 Year Limited-Recourse Credit Facility
Dec 7 14
OAO Sovcomflot announced that it has signed a new USD 319 million 10 year credit facility with a consortium of European banks with ING acting as Agent. The funds will be used towards financing two new ice-class LNG carriers SCF Melampus and SCF Mitre, which will operate on long-term contracts with the Shell Group. The new high-spec Atlanticmax Ice2 (1C) class gas carriers feature a tri-fuel engine, a cargo capacity of 170,000m³ and are equipped for operating in harsh and low temperature conditions. The vessels’ design is optimised to provide the utmost trading flexibility to their charterers, as they are able to transport LNG year round to and from most of the world’s existing LNG terminals. The project facility has a limited recourse structure and a favourable long-term tenor, as well as competitive pricing, reflecting the robustness of the deal structure, the stability of the charter hire revenue stream and cash flows, and the high credit quality of the charterer. The vessels will form part of Sovcomflot's recently established company SCF Gas Carriers Ltd., the Group’s dedicated vehicle for its expanding gas transportation business.
OAO Sovcomflot, Board Meeting, Dec 10, 2014
Dec 5 14
OAO Sovcomflot, Board Meeting, Dec 10, 2014. Agenda: To consider and approve the budget for 2015 and on the forecast of the budget for 2016-2017; to consider and approve amendments to the bylaw on the remuneration of labor and material assistance to employees and on approval of target values of key performance indicators for 2015; on the program of the long-term motivation; to consider and approve recommendations to general shareholders' meeting on remuneration of members of the board of directors for 2014 and on amendments to the bylaw on remuneration and compensation of members of the board of directors; to consider and approve preparation of the securities prospectus; and to consider and approve the increase of labor productivity.
Sovcomflot Proposes Amendments to the Bylaws
Dec 5 14
Sovcomflot announced that at the board of director's meeting to be held on December 10, 2014, will propose to consider and approve amendments to the bylaw on the remuneration of labor and material assistance to employees and on approval of target values of key performance indicators for 2015.
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