September 20, 2014 7:04 PM ET

Marine

Company Overview of OAO Sovcomflot

Company Overview

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

Moscow,  125047

Russia

Founded in 1988

Phone:

7 495 660 4000

Fax:

7 495 660 4099

Key Executives for OAO Sovcomflot

Chairman of Executive Board
Age: 54
Chief Financial Officer
Age: 51
Chief Operating Officer
Senior Executive Vice-President and Member of Executive Board
Age: 50
Chief Strategy Officer
Age: 45
Compensation as of Fiscal Year 2014.

OAO Sovcomflot Key Developments

OAO Sovcomflot Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

OAO Sovcomflot reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating profit of $37,944,000 against $12,445,000 for the same period a year ago. Profit before income taxes of $8,190,000 against loss before income taxes of $17,575,000 for the same period a year ago. Profit of $5,455,000 against loss of $16,424,000 for the same period a year ago. Profit attributable to owners of the parent was $5,221,000 against loss attributable to owners of the parent of $16,391,000 for the same period a year ago. Basic earnings per share was $0.003 against basic loss per share was $0.008 for the same period a year ago. Time charter equivalent Revenue was $220,119,000 against $218,527,000 for the same period a year ago. For the six months, the company reported operating profit of $128,450,000 against $43,331,000 for the same period a year ago. Profit before income taxes of $68,079,000 against loss before income taxes of $13,635,000 for the same period a year ago. Profit of $63,601,000 against loss of $14,472,000 for the same period a year ago. Profit attributable to owners of the parent was $60,481,000 against loss attributable to owners of the parent of $14,401,000 for the same period a year ago. Basic earnings per share was $0.031 against basic loss per share was $0.007 for the same period a year ago. Time charter equivalent Revenue was $490,681,000 against $420,361,000 for the same period a year ago. Net cash inflow from operating activities of $207,125,000 against $223,275,000 for the same period a year ago. Expenditure on other fixed assets was $2,337,000 against $17,481,000 for the same period a year ago.

Sakhalin Energy, Sovcomflot Sign Long-Term Agreements for Operation of Three Vessels

Sakhalin Energy and the Sovcomflot group have signed agreements for the construction and long-term operation of three multifunctional icebreaking standby vessels for use at Sakhalin-2 offshore energy platforms. Operations under the contracts will continue for 20 years.

Rostelecom, Sovcomflot and Novorossiysk Commercial Sea Port To Be Privatized In 2014

Open Joint Stock Company Long-Distance and International Telecommunications Rostelecom (MICEX:RTKM), OAO Sovcomflot and Public Joint Stock Company Novorossiysk Commercial Sea Port (MICEX:NMTP) will be privatized in 2014. Tatyana Nesterenko, Deputy Finance Minister said, "We are fine tuning the estimate [of privatization revenue for the budget] concerning plans for the sale of Rostelecom,Sovcomflot and NCSP shares. Based on the uncertainty,the government has decided against putting the stakes up for sale this year".

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September 27, 2013
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