Sovcomflot swaps to Russian bonds as sanctions force long-term strategy shift
Sanctioned Russian tanker giant reveals it has paid bondholders’ missed instalments, but is swapping Eurobonds for Russian bonds as a long-term fix to payment blocks
Having sold off 30 vessels in the wake of sanctions, Sovcomflot’s remaining fleet has made over 50% fewer port calls compared with last year as trade shifts and increased ship-to-ship operations start to reshape strategy