Russian state tanker and LNG carrier owner Sovcomflot (SCF Group) returned to profit in 2019 as it clinched financing worth more than $1bn.
The company, which is aggressively expanding its fleet, said net profit for the year was $225.4m, against a loss of $45.6m in 2018.
Revenue grew to $1.66bn from $1.51bn in strong tanker and gas markets.
Chief financial officer Nikolay Kolesnikov said its business model provided for resilient financial performance and has allowed the company to maintain strong relationships with its financiers for many years.
