Russian state-owned shipping company Sovcomflot (SCF Group) has seen earnings chopped so far in 2024 as Western sanctions continue to complicate its tanker operations.
The Moscow-listed tanker and gas carrier owner said it made $505m in net profit in the nine months to 30 September, against $702m in 2023.
Earnings were logged “thanks to a stable level of operating income, taking into account the significant provision of the fleet with long-term contracts,” the shipowner added.
