Costs relating to the “shipping trial of the decade” and a provision on its tanker fleet in one of the worst markets for a quarter of a century pushed Sovcomflot into the red in 2017.
Sovcomflot (SCF Group) recorded a net loss of $113m for the year after carrying $108m in impairments relating to the Fiona and Novoship litigations and a writedown on ship values.
