Sovcomflot

What Sovcomflot does

PAO Sovcomflot is a Russian public energy-shipping company listed on the Moscow Exchange under FLOT and controlled by the Russian Federation. It transports crude oil, petroleum products, LNG, and LPG and provides specialized offshore vessels to oil and gas companies; named customers include Novatek, Shell, TotalEnergies, Rosneft, Gazprom, and PetroChina.\n\nFleet figures in the input range from 137 to 158 vessels, with about 80 ice-class vessels reported. Core technology includes Arc7 ice-class LNG carriers designed to break through ice up to 2.1 metres thick. The disclosed propulsion design uses three 15MW rotatable Azipod thrusters per vessel. Sovcomflot also identifies satellite-assisted ice reconnaissance for Arctic routing.\n\nSovcomflot's revenue model combines long-term time charters, contracts of affreightment, gas transportation, and offshore services. Approximately 65% of ships are fixed on time charters, with 100% period coverage for gas and offshore fleets, while conventional crude and product tankers retain spot-market exposure.

Name

Sovcomflot

Legal name

PAO Sovcomflot

Website

https://sovcomflot.ru

Company type

Public

Founded year

2026

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sovcomflot is a Russian energy shipping company operating ice-class LNG carriers, crude and product tankers, shuttle vessels, and offshore ships for oil and gas companies. It earns from long-term charters and contracts of affreightment, while operations remain spot-rate exposed.

Ownership category

akta.pro rank

Product category

Energy Shipping Services

NAICS

Deep Sea, Coastal, and Great Lakes Water Transportation (48311), Deep Sea Freight Transportation (483111)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

LNG & LPG Marine Shipping (Carriers) (EUALADAF)

akta.pro secondary industries

Liquid Bulk / Crude & Product Tanker Operators (VLCC/Suezmax/Aframax/MR) (TLADABAD), LNG Shipping & Marine Transportation (LNG Carriers, Chartering) (EUALAFAC)

Keywords

• Energy shipping services
• LNG carrier operations
• Ice-class tanker fleet
• Crude oil transportation
• Arctic maritime logistics

Headquarters

HQ city

Leningrad

HQ country

Russia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Industrial Shipping Services: Long-term charters and contract of affreightment arrangements with energy companies for ice-class gas carriers and shuttle tankers deployed on government-backed Arctic oil and gas projects. This segment accounted for approximately 47% of half-year chartering and related revenues.
2. Conventional Tanker Operations: Spot market and short-term charter operations for crude and product tankers, exposed to freight rate volatility. Revenue fell 30% in 2025 due to sanctions impacts.
3. Gas Transportation: LNG and LPG carrier operations, including Arc7 ice-class vessels serving Yamal LNG and Arctic LNG 2 projects
4. Offshore Services: Specialized offshore supply vessels and platform services for upstream oil and gas projects

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Sovcomflot operates one of the world's largest energy shipping fleets, providing maritime transportation of crude oil, petroleum products, LNG, and LPG via conventional and specialized ice-class vessels. The company serves major international and Russian energy companies through long-term time charter contracts (with multi-year backlogs of $8.1–8.4 billion) and spot market operations, with particular specialization in Arc7 ice-class LNG carriers serving the Yamal LNG and Arctic LNG 2 projects via the Northern Sea Route.

Product overview

Sovcomflot (SCF Group) is Russia's largest shipping company and a global leader in energy shipping, operating a fleet of approximately 137-158 specialized vessels. The company operates under a unified shipping services model rather than a platform-plus-modules architecture. Its core product portfolio includes Arc7 ice-class LNG carriers for Arctic LNG transport (supporting Yamal LNG and Arctic LNG 2 projects), conventional crude oil tankers (VLCC, Suezmax, Aframax), ice-class shuttle tankers for offshore projects, LNG-fuelled Aframax tankers under the 'Green Funnel' brand, offshore supply vessels, LPG carriers, and product tankers. Key vessels include the Christophe de Margerie (first Arc7 ice-breaking LNG carrier), Alexey Kosygin (first domestically-built Arc7 carrier), and Konstantin Posiet (second domestically-built Arc7 carrier). The company provides industrial shipping services to major energy companies including Gazprom, Rosneft, Novatek, Shell, and TotalEnergies.

Differentiator

Problem solved

Functional benefit

Products and services

• Arc7 Ice-Class LNG Carriers
• Conventional Crude Oil Tankers
• Shuttle Tankers
• LNG-Fuelled Aframax Tankers (Green Funnel)
• Offshore Supply Vessels
• LPG Carriers
• Product Tankers
• Christophe de Margerie
• Alexey Kosygin
• Konstantin Posiet

Quantifiable outcome

• 40% shorter route to Asia via Northern Sea Route compared to Suez Canal, reducing carbon emissions by 7,000 tons per round trip
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Mitsui O.S.K. LinesminorChannel Partner/ Reseller/ Distributor · 1 January 2022Japanese shipping company that jointly ordered Arc7 icebreaking LNG carriers with Sovcomflot for Arctic LNG 2 project. Vessels stranded at Hanwha Ocean shipyard due to sanctions.
• TotalEnergiescoreChannel Partner/ Reseller/ Distributor · 1 January 2021French energy major with long-term charter agreement for LNG carriers including a 174,000 cu m vessel under construction at Hyundai Heavy Industries for delivery in Q3 2023, with options for two additional vessels on up to seven-year charters. Partnership extended from 2021 TotalEnergies charter deal.
• Maritime Arctic Transport LLC (Joint Venture)coreStrategic or Co-development Partner · 7 June 2019Joint venture established with Novatek, Cosco Shipping, and Silk Road Fund to ship hydrocarbons from Arctic LNG projects (Yamal LNG and Arctic LNG 2) to Asia-Pacific. Sovcomflot manages the icebreaking tanker fleet of Arctic ice-class vessels. Target of transforming Northern Sea Route into a global commercial transportation corridor between Pacific and Atlantic basins, with goal of 80 million tons annual cargo traffic by 2024.
• Cosco ShippingcoreStrategic or Co-development Partner · 7 June 2019Chinese state shipping company partner in Maritime Arctic Transport joint venture for Arctic LNG shipping operations. Collaborates with Sovcomflot in managing icebreaking LNG carrier fleet for transportation of LNG from Russian Arctic projects to Asia-Pacific markets via Northern Sea Route.
• NovatekcoreStrategic or Co-development Partner · 7 June 2019Russian gas producer and lead shareholder in Yamal LNG and Arctic LNG 2 projects. Partner in Maritime Arctic Transport JV and long-term charter customer for Arc7 ice-class LNG carriers. Novatek provides guaranteed cargo traffic as source of demand for Sovcomflot's specialized Arctic fleet.
• Hyundai Samho Heavy IndustriescoreTechnology or Integration · 1 January 2019South Korean shipyard constructing LNG-fuelled aframax tankers and Atlanticmax LNG carriers for Sovcomflot. Built six Green Funnel aframax vessels and multiple LNG carriers for long-term charter customers including Shell and TotalEnergies.
• GazpromcoreChannel Partner/ Reseller/ Distributor · 1 January 2019Russian state gas company and long-term charter customer for LNG carriers including Velikiy Novogorod. Operating partner for Sakhalin offshore projects requiring specialized ice-class vessels.
• GlencoreminorChannel Partner/ Reseller/ Distributor · 1 January 2019Commodity trader in joint venture with Sovcomflot for operation of long-range product tankers (LR1s) carrying oil products.
• RosneftcoreChannel Partner/ Reseller/ Distributor · 1 September 2018Russian state energy company chartering LNG-powered aframax tankers from Sovcomflot under 20-year contracts. Vessels being built at Zvezda shipyard for Rosneft operations. Also confirmed pilot Arctic LNG 2 carrier program with Zvezda and Sovcomflot involvement.
• Zvezda Shipbuilding ComplexcoreTechnology or Integration · 1 September 2018Russian shipyard (led by Rosneft) constructing LNG-powered aframax tankers and Arc7 ice-class LNG carriers for Sovcomflot. Site of domestic shipbuilding program for Arctic LNG 2 vessels. Building hull blocks for ice-breaking supply vessels.
• ShellcoreStrategic or Co-development Partner · 1 April 2017Long-term strategic partnership involving LNG bunkering agreement and charter contracts for LNG-fuelled Green Funnel aframax tankers. Shell supplies LNG fuel through its Cardissa bunker vessel at Rotterdam and holds multi-year time charters for vessels including Gagarin Prospect and Samuel Prospect. Partnership includes technical, commercial, and logistical cooperation.
• RosatomflotcoreStrategic or Co-development Partner · 1 January 2017Operator of Russia's nuclear icebreaker fleet providing icebreaker escort and support services for Yamal LNG and Arctic LNG 2 operations. Supplies three ice-class Arc4 escort tugs, one port icebreaker, and one icebreaking tug under Portoflot project to 2040.
• Aker Arctic (Aker Arctic Research Centre)coreTechnology or Integration · 1 January 2017Finnish research center that designed the hull of Arc7 ice-class LNG carriers including Christophe de Margerie. Provided technical expertise for ice-breaking vessel design and Arctic navigation capabilities.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Euronav: Euronav is a leading pure-play crude tanker operator with VLCC and Suezmax tonnage serving global oil majors. It competes head-to-head with Sovcomflot in crude oil transportation across Atlantic and Pacific basins.
• DHT Holdings: DHT Holdings is a pure-play VLCC operator with one of the most modern crude tanker fleets globally, including exposure to Russian crude shipments. It competes directly with Sovcomflot's VLCC operations, including those chartered to PetroChina.
• Flex LNG: Flex LNG operates a fleet of modern LNG carriers with long-term charter contracts to energy majors. It is a direct competitor in the large-scale LNG carrier market where Sovcomflot's Arc7 and conventional LNG vessels operate.
• BW LNG: BW LNG is a specialized LNG carrier operator with a fleet serving major energy companies under long-term charters. It competes with Sovcomflot for LNG carrier charter business from global LNG producers and traders.
• NYK Line (Nippon Yusen Kabushiki Kaisha): NYK Line operates one of the world's largest LNG carrier fleets alongside container, dry bulk, and tanker businesses. It is directly comparable to Sovcomflot as a major Japanese shipping company with diversified energy-transport exposure.
• Mitsui O.S.K. Lines: Mitsui O.S.K. Lines jointly ordered Arc7 LNG carriers with Sovcomflot for the Arctic LNG 2 project (now stranded at Hanwha Ocean). MOL operates a substantial LNG carrier fleet and is directly comparable in Japanese/Korean LNG carrier operations.
• Frontline: Frontline is one of the world's largest independent crude oil tanker operators with a fleet of VLCCs, Suezmaxes, and Aframax/LR2 tankers. It directly competes with Sovcomflot's conventional crude tanker segment and shares exposure to spot-market tanker freight rates.
• International Seaways: International Seaways operates a diversified fleet of crude and product tankers (VLCC, Suezmax, Aframax, MR/LR1), directly competing with Sovcomflot's conventional tanker fleet in global crude and product trades.
• Teekay Corporation: Teekay operates one of the world's largest fleets of shuttle tankers servicing offshore oil fields, alongside conventional tankers and LNG newbuilds. It is a direct competitor in the Arctic shuttle tanker and offshore segments where Sovcomflot has a leadership position.

Broad incumbents

• Cosco Shipping Holdings: Cosco Shipping is a joint-venture partner with Sovcomflot, Novatek, and Silk Road Fund in Maritime Arctic Transport LLC for Arctic LNG shipping. As China's largest shipping group with diversified container, dry bulk, and tanker exposure, it is both a strategic partner and broad competitor in energy shipping.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sovcomflot_ru
• Facebookfacebook.com/sovcomflotgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sovcomflot