Company Overview of PAO Sovcomflot
PAO 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 transports crude oil, refined petroleum and other oil products, chemicals, LNG and LPG, and coal. The company also offers logistical support services, and floating storage and offloading unit management services for offshore development facilities. As of December 31, 2014, it had 60 crude oil carriers, 43 petroleum product carriers, 2 LNG carriers, 4 LPG carriers, 13 shuttle tankers, 4 ice breaking supply vessels, 3 bulk carriers, and 1 chartered in seismi...
6 Gasheka Street
Founded in 1988
Key Executives for PAO Sovcomflot
Chairman of Executive Board, Chief Executive Officer, President and Director
Chief Financial Officer, Senior Executive Vice-President and Member of Executive Board
Member of Executive Board and President of Oao "Novoship"
Senior Executive Vice President and Member of Executive Board
Senior Executive Vice-President and Member of Executive Board
Compensation as of Fiscal Year 2015.
PAO Sovcomflot Key Developments
Russian billionaire Seen As Buyer In Privatization Plan
Feb 4 16
Suleyman Kerimov may take part in the upcoming privatization, Forbes reported citing its unnamed sources. Kerimov is looking to buy the state's shares in Sovcomflot.
Russian Oligarchs Seen As Buyers In Privatization Plan
Feb 3 16
Russian oligarchs are seen as the most likely potential buyers for stakes to be sold as part of the privatization plan. The Kremlin stated that foreign investors were welcome to participate in the privatization of firms. Two senior government officials said the plan may only raise between 50% and 80% of the trillions envisaged. Sources told Reuters that the Kremlin is considering divesting state stakes in Open Joint Stock Company Rosneft Oil Company (LSE:ROSN), Public Joint Stock Oil Company Bashneft (MICEX:BANE), PAO Sovcomflot, Public Joint Stock Company ALROSA (MICEX:ALRS) and JSC VTB Bank (LSE:VTBR). Government sources told Reuters some of the stakes could be sold on the Moscow Stock Exchange. "It is possible to sell these assets, but it will be a serious effort," Andrei Shemetov, deputy head of the Moscow Exchange, said. According to two officials familiar with the discussion on privatization, 4% stake in Rosneft could be sold on the stock exchange, but there is reluctance to do so, considering the super-low price of the company's shares. Alrosa and Sovkomflot have been catching investors' eyes for a long while, Andrei Shemetov said. Finance Minister Anton Siluanov has said around RUB 1 trillion, or 1% of gross domestic product is expected to be raised from privatization in 2016 and 2017. The 2016 budget, approved before the new plan, envisages only about RUB 33 billion in privatization revenues.
Russia Hopes To Raise RUB 1 Trillion From Privatization Of State Assets In 2016
Feb 1 16
Russia hopes to raise RUB 1 trillion from privatization of state assets in 2016. Candidates for sale include state stakes in Oil Transporting Joint Stock Company Transneft (MICEX:TRNFP), Open Joint Stock Company Rosneft Oil Company (LSE:ROSN), Public Joint Stock Company Long-Distance and International Telecommunications Rostelecom (MICEX:RTKM) and Public Joint Stock Company Aeroflot - Russian Airlines (MICEX:AFLT). One of the first assets to be sold could be shares in PAO Sovcomflot. President Vladimir Putin might give the go-ahead to the privatization program at a meeting in week ending on February 5, 2016.
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