A tanker market downturn has led Russia’s Sovcomflot to focus more on long-term projects as its first half net profit declined by 23.3%.
The Russian giant banked $165.9m in the first six months of the year, versus $216.3m a year earlier.
But its net profit adjusted for non-operating revenue decreased by 5.8%, the company clarified.
SCF’s revenue for the period came to $680.2m,
