How sanctions hit Russian shipowner Sovcomflot's profit and tanker sailings in 2024
Russia’s state shipowner Sovcomflot (SCF Group) has revealed how Western sanctions are hurting its cargo operations.
Chief executive Igor Tonkovidov was quoted by the domestic Interfax news agency as saying its transported volumes dropped 16% to 63m tonnes in 2024, compared to the year before.
The tanker and LNG carrier group hopes that crude, oil products and gas cargo levels will stay at the same level in 2025, the boss added.
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