Ship Owner Cuts Tanker Exposure

Sergei Frank Sovcomflot, Russia’s largest shipping company, said its gas and offshore transportation divisions will expand under a plan approved by its board. The state-owned firm, which lists a fleet of 156 vessels, said it would “streamline” its conventional shipping operations and increase the proportion of its business that involves liquefied natural gas transportation and offshore shuttle tanker operations, according to an e-mailed statement. The […]