Sovcomflot fleet fully covered by Russian
insurers, CEO says
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[June 18, 2022]
(Reuters) - Russia's state-run
Sovcomflot has insured all its cargo ships with Russian insurers and the
cover meets international rules, the chief executive said, after Western
insurers withdrew cover. |
![](../images/061822PIX/busine5.jpg)
A flag depicting the logo of the Russian state-owned shipping
conglomerate Sovcomflot, flies outside the company's hearquarters in St.
Petersburg, Russia, May 17, 2017. REUTERS/Anton Vaganov/File Photo |
Western insurers halted insurance cover for Russia's biggest
shipping group when Sovcomflot was hit by sanctions after Moscow
sent troops across the border into Ukraine.
Sources told Reuters this month that state-controlled Russian
National Reinsurance Company had become the main reinsurer of
Russian ships, including Sovcomflot's fleet.
"Technically, we meet all international trade requirements," CEO
Igor Tonkovidov told reporters. "Currently, the company's fleet
is almost fully busy in shipping hydrocarbons, cargoes are
delivered to different parts of the world."
Sovcomflot is a key shipper of Russian oil and liquefied natural
gas (LNG) cargoes globally.
Western insurance sources have said the Russian replacement
cover would likely be enough to keep Russian vessels sailing
around the world.
(Reporting by Reuters; Editing by Edmund Blair)
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