Sovcomflot (Russian: ПАО «Совкомфлот», ПАО «Современный коммерческий флот», lit. 'Modern Commercial Fleet'). Sovcomflot is Russia's largest shipping company, and one of the global leaders in the maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil & gas production. In 1973 the Government of the USSR decreed the formation of a special shipping corporation, separated from the regular state-owned marine fleet, that could use a long-term bare boat charter scheme for purchasing new and used foreign-built vessels. In 1976 the Ministry of Merchant Marine instituted a special fund and the newly formed corporation used it to acquire two 40,000 DWT, dry cargo transports – Sovfracht and Sovinflot. More information...
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