MOSCOW, May 23. /TASS/. Net loss of Sovcomflot under International Financial Reporting Standards (IFRS) amounted to $393 mln in Q1 2025 compared to $216 mln worth of profit in the same period last year, the company reported.
Revenue fell by 49% in the period to $278.5 mln. Time charter equivalent (TCE) revenue totaled $222.1 mln. Operating loss reached $347 mln in the reporting period, which is 36% lower than in the previous year.
Sovcomflot Group is the largest shipping company in Russia, a leader in the field of marine transportation of oil, oil products and liquefied gas, as well as servicing of offshore hydrocarbon production. The company specializes in operations in difficult climatic and ice conditions.
