PAO Sovcomflot 2019 AR2
The report outlines Sovcomflot's operational and financial performance for the fiscal year 2019, highlighting its transition toward sustainable shipping. Key achievements include the successful expansion of its 'Green Funnel' series of LNG-fuelled Aframax tankers, which significantly reduced carbon dioxide, nitrogen oxides, and sulphur oxides emissions. The company also established the SMART LNG joint venture with NOVATEK to operate an Arctic LNG carrier fleet. Financially, Sovcomflot achieved steady growth with time charter equivalent revenues increasing by 17.8% to over USD 1.27 billion and net profit reaching USD 225.4 million. Additionally, the company remained committed to high safety standards, recording a 15% reduction in its Lost Time Injury Frequency.
Company: PAO Sovcomflot
Sector: Transport & logistics
Country: Russia
Year: 2019
Type: AR2
Pages: 164
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PAO Sovcomflot
Annual Report
The report outlines Sovcomflot's operational and financial performance for the fiscal year 2019, highlighting its transition toward sustainable shipping. Key achievements include the successful expansion of its 'Green Funnel' series of LNG-fuelled Aframax tankers, which significantly reduced carbon dioxide, nitrogen oxides, and sulphur oxides emissions. The company also established the SMART LNG joint venture with NOVATEK to operate an Arctic LNG carrier fleet. Financially, Sovcomflot achieved steady growth with time charter equivalent revenues increasing by 17.8% to over USD 1.27 billion and net profit reaching USD 225.4 million. Additionally, the company remained committed to high safety standards, recording a 15% reduction in its Lost Time Injury Frequency.
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Document Details
Report Year
2019
Reporting Period
2019
Fiscal Year
2019
Published
Apr 8, 2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
Assurance
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Employees