Russia’s main transport firm Sovcomflot plans to promote a part of its fleet, it mentioned on Friday, because it grapples with Western sanctions and seeks to repay excellent loans.
Sovcomflot has confronted rising challenges in concluding charters as ports, finish purchasers, marine insurers and different freight firms pull again from Russian enterprise amid sanctions imposed in response to Moscow’s invasion of Ukraine.
Lloyds Listing transport newspaper reported, citing unnamed sources, that as much as a 3rd of Sovcomflot’s owned fleet was up on the market because it sought to repay Western loans.
Sovcomflot mentioned the “rumours” concerning the sell-off of a 3rd of its fleet had been “exaggerated”.
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“Ageing transport services in addition to vessels, utilization of which gave the impression to be not possible on account of restrictions imposed towards Russian business fleet, have been put up on the market,” Sovcomflot mentioned.
The corporate owns and operates 122 vessels, together with 50 crude oil tankers, 34 tankers for transportation of oil merchandise. 14 shuttle tankers, 10 fuel carriers and 10 icebreakers.
Supply: Reuters (Reporting by Reuters; Modifying by Elaine Hardcastle)
