Russia's Sovcomflot posts losses in 2025 due to sanctions

Russian tanker operator Sovcomflot published its consolidated financial statements for the year ended December 31, 2025, reporting a total revenue of $1.31 billion. The company reported that time charter equivalent revenue amounted to $1.07 billion while EBITDA reached $526 million.

An adjusted net loss of $6 million was recorded for the period, marking a stark contrast to the $509 million adjusted net profit reported by the group during the previous year.

On a statutory basis, however, the group recorded a substantially wider net loss of $648 million, primarily driven by $550 million in non-cash impairment charges and foreign exchange fluctuations triggered by international sanctions.