Russia’s largest shipping company, Sovcomflot, intends to sell an “age-old” fleet and vessels whose operation is restricted due to sanctions against the Russian fleet.

This was reported by Interfax with reference to the company’s press service.

Earlier, the media reported that the company plans to sell at least 40 vessels to repay loans from Western banks. But the company called the reports “exaggerated.”

“Age tonnage is offered for sale on the market, as well as vessels, the operation of which is not appropriate due to the restrictions imposed on the Russian merchant navy,” the company said.

Sovcomflot specializes in the transportation of liquefied gas, oil and petroleum products, one of the world’s largest tanker fleet operators. Own and chartered fleet, including joint venture vessels, has 135 vessels with a total deadweight of 11.7 million tons.

As reported, Sovcomflot plans to close its Cypriot office by May 15 , which provides financial management, accounting and consolidated reporting.

In February, the US Treasury Department imposed additional sanctions on Russia’s largest naval and cargo shipping company, Sovcomflot, and a number of other organizations owned or controlled by the Russian government in connection with Russia’s military invasion of Ukraine. Similar sanctions have been imposed by the European Union. Джерело: https://biz.censor.net/n3339454

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