Russian state-owned shipping company the SCF Group has published its summarised consolidated financial statements for the first quarter of 2026.
According to the results of the reporting period, SCF's revenue based on time charter equivalent (TCE) earnings amounted to US$345 million while gross operating profit peaked at US$227 million. Compared to the same period in 2025, TCE revenue and gross operating profit increased by 1.6 and 2.2 times, respectively.
The gross operating profit margin was 66 per cent against 47 per cent in Q1 2025. Adjusted net profit attributable to shareholders of the company for the first quarter amounted to US$84 million, compared to a loss of US$1 million for the same period in 2025.
SCF said that, in the reporting period, the company demonstrated a steady positive trend in revenue and profitability, which was achieved due to the high level of provision of the fleet with long-term contracts, including taking into account the replenishment of the fleet to work in industrial business segments as well as the high conditions of the tanker market.
SCF's cash, term bank deposits and other financial assets in Q1 2026 had a total value of US$1.322 billion, a decrease of 13 per cent from US$1.524 billion in Q1 2025.
