Stakeholder communications

The main principles and priorities for stakeholder communications are enshrined in the Code of Corporate GovernanceThe new version was approved by the PAO Sovcomflot Board of Directors decision dated 10 November 2015, Minutes No. 149..

In 2019 Sovcomflot Group actively communicated with its stakeholders, performing work in parallel aimed at expanding and developing existing platforms and mechanisms for joint dialogue. The key stakeholder groups of the Company as well as channels and formats of communication with them are set out in the table below.

Mechanisms for stakeholder communications
Stakeholder Mechanisms for communications
Shareholder and investors
  • Shareholder
  • Investors
  • Banks and creditors
General meetings of shareholders
Presentations, conference calls, meetings between management and the investment community, analyst and investor days
Publication of press releases and other materials as part of the disclosure of information on Sovcomflot Group activities
Disclosure of information and reporting
Business partners
  • Group customers
  • Suppliers and contractors
Meetings with clients, including industry conferences and seminars
Conducting research among consumers
Development of tender procedures for the procurement of goods and services
Audit of suppliers in order to confirm their good faith and solvency
Implementation of anti-corruption procedures
Publication of market overviews
  • Group employees
Meetings with employees held by management of all levels and HR department representatives
Notifying employees through an intra-corporate communications system
Material and non-material incentive programmes
Development of the training and skill improvement system for seagoing and onshore personnel
Use of feedback tools, employee surveys
Consideration of submissions and complaints
  • Russian legislative and executive state authorities
Participating in the activities of working groups and expert councils established under Russian state authorities
  • Academic institu-tions
  • Health care institutions
  • Industry veterans
  • Local population in the regions where the Company has a footprint
Charitable assistance to educational and health care institutions and veteran organisations
Targeted training programmes for cadets of maritime universities
Organising internships for cadets on the Company’s vessels
Organising internships for teachers of maritime universities
Sponsoring sports events and competitions aimed at raising the prestige of the maritime profession
Russian and inter-national profes-sional organisations and NGOs
  • Industry non-governmental organisations
  • Business associations
  • NGOs
Participation in the activities of working groups and boards of professional non-governmental organisations
Implementing joint projects with the maritime community
Supporting local projects and discussing individual issues related to the Company’s activities
The media
  • Print publications
  • Electronic media (including television, the internet, and radio)
Regular publications in the media of materials dedicat-ed to important events in the Group’s activities
Organising interviews with management
Press conferences and other events for media representatives
Participation of Group representatives as experts during the preparation of topical subjects on navigation issues in the Arctic region, development trends in various freight market segments, and shipbuilding

PAO Sovcomflot did not receive government support, including subsidies.