Russian state shipowner Sovcomflot (SCF Group) has been pushed into a first-quarter loss in weak tanker spot markets.
But the group, which listed in Moscow in October, believes a low newbuilding orderbook should allow markets to improve once the Covid-19 pandemic eases.
The company's net loss in the first quarter was $1.7m, against profit of $116.1m the same period of the year before.
