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Oao Sovcomflot News

08 Dec 2014

Sovcomflot Concludes $319 mi 10-year Loan

OAO Sovcomflot (SCF Group) signed a new USD 319 million 10 year credit facility with a consortium of leading European banks with ING acting as Agent. The funds will be used towards financing two new ice-class LNG carriers SCF Melampus and SCF Mitre, which will operate on long-term contracts with the Shell Group. The new high-spec Atlanticmax Ice2 (1C) class gas carriers feature a tri-fuel engine, a cargo capacity of 170,000m³ and are equipped for operating in harsh and low temperature conditions. The vessels’ design is optimised to provide the utmost trading flexibility to their charterers, as they are able to transport LNG year round to and from most of the world’s existing LNG terminals.

20 Nov 2014

OAO Sovcomflot’s 9M/Q3 2014 Results

OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014. n.a. Commenting on the results, Sergey Frank, President and CEO of OAO Sovcomflot, said, “Sovcomflot has performed strongly in the first nine months of 2014, with revenue and profits significantly ahead of the comparable period last year. These financial results reflect an improved freight rate environment over the period, especially within the crude oil segment of the tanker market. Equally, they demonstrate the benefits of our work to develop long-term relationships with ‘blue chip’ charterers across the globe, in order to provide safe and reliable transportation for their cargoes. “During the period, we continued to focus on implementation of the Group’s strategy.

03 Oct 2014

Yamal LNG: Steel Cut for First Arctic Gas Carrier

Construction of an Arctic gas carrier for OAO Sovcomflot has begun under the survey of Russian Maritime Register of Shipping (RS).The ship is being built as part of Yamal LNG, a major Russian liquefied natural gas (LNG) project being implemented in the Arctic. The steel cutting ceremony for the pilot vessel was held on September 29, 2014 at Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea. Head of the RS office in the Republic of Korea Alexander Yagodin took part in the event, along with representatives from OAO Sovcomflot. The construction of RS class cutting edge Yamal LNG gas carriers is a new milestone in the development not only of the Russian classification society, but also of the entire maritime industry, RS said.

30 Sep 2014

Steel Cut for Yamal LNG Project’s Lead Tanker

SCF Yamalmax mock up (image courtesy of SCF Group)

A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project. The prototype vessel will be operated under a long-term time charter between OAO Sovcomflot and JSC Yamal LNG. The steel-cutting ceremony, marking the formal start of a ship’s construction process, took place at the Daewoo Shipbuilding and Marine Engineering Co., Ltd. (South Korea) shipyard in the presence of representatives from OAO Sovcomflot…

02 Sep 2014

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014. SCF played a key role in organizing the first ever races of tall ships in the Black Sea – “SCF Black Sea Tall Ships Regatta” that took place in May and called on four ports – Varna, Novo, Sochi and Constanta. “The tanker market remains challenging, with freight rates fluctuating near their historic lows during Q2 after a strong start to the year in Q1 from which Sovcomflot benefited from improved conditions within the crude oil segment in particular.

26 Aug 2014

Gazprom, Sovcomflot Expand LNG Transport Cooperation

Gazprom and Sovcomflot named the new state-of-the-art 170,000m³ liquefied natural gas carrier (LNGC) Pskov, after one of the oldest Russian cities. The ship will be chartered to Gazprom Global LNG (GGLNG) under a long-term contract. The LNGC Pskov is the second vessel in a series of high-specification, ice class Atlanticmax LNG carriers that have been specially designed in accordance with Gazprom’s requirements, and will support Gazprom’s global commercial operations in the gas markets. The first LNGC, Velikiy Novgorod, was delivered and entered service in January of this year. The naming ceremony took place at the STX shipyard, South Korea.

26 Aug 2014

Pskov Gas Carrier Construction Nears Completion

Photo courtesy of RS

On August 25, 2014, the naming ceremony for the Pskov high-tech liquefied natural gas (LNG) carrier was held at the South Korean shipyard STX Offshore & Shipbuilding. The ceremony was attended by Aleksander Medvedev, Deputy Chairman of the Gazprom Management Committee, Evgeniy Ambrosov, Senior Executive Vice-President of OAO Sovcomflot, Nikolay Grigoriev, Director of Global Shipping & Logistics of Gazprom Marketing and Trading, representatives of the management of STX Offshore & Shipbuilding yard…

06 Jun 2014

Sovcomflot Reports “Strong Start” for Q1 2014

Photo: Sovcomflot

Russian shipping company Sovcomflot, a global top-five tanker company, reported its financial results for the first quarter of 2014. The company, which offers crude oil, refined petroleum products and liquefied gas transportation services, recorded a “strong start” with highlights as listed below. •Successful completion by SCF Group’s company, Novoship, of modernization at the Port of Sochi for 2014 Winter Olympic Games. Sergey Frank, President and CEO of OAO Sovcomflot, said, “Following five years of recession, the tanker market is showing the early signs of a long overdue recovery.

01 May 2014

Greenpeace Targets Russian Tanker at Rotterdam Port

Photo: Sovcomflot

Mikhail Ulyanov, an ice-breaking shuttle tanker (ice class – ARC6) belonging to OAO Sovcomflot (SCF Group), has been the subject of a Greenpeace protest, while at the Port of Rotterdam carrying a cargo of 67,000 tons of crude oil, loaded on the continental shelf of the Pechora Sea, Russia. “We are extremely disappointed that our vessel has been the subject of an irresponsible publicity stunt by Greenpeace, which occurred despite the measures taken by our ship and the port authorities, including the Coast Guard and the Marine Police.

22 Apr 2014

Arctic Energy Exploration Efforts Heat Up

The first ever cargo vessel to sail from Murmansk to Shanghai via the Northern Sea Route, without the assistance of icebreakers, recently completed its maiden crossing, cutting a 65-day journey on the return leg down to 19 days. ABB’s Azipod electric propulsion technology helps to make the year-round journey possible. (Photo: ABB)

Oil and gas—and also mining—are the drivers today propelling Arctic maritime operations and the construction of new vessels able to operate in extreme latitudes. While the gas and oil resources can be recovered in the Arctic or far north and shipped to markets by sea or pipeline, the cost of doing must be balanced upon the global market price for those commodities. Ships and marine structures able to operate in the harsh conditions of the extreme latitudes require special designs and construction techniques.

11 Feb 2014

Gas Carrier SCF Mitre Launched

The launching ceremony of the final ship in a series of four LNG carriers built at STX Offshore and Shipbuilding Co., Ltd. was held in South Korea on February 11, 2014. KM Ice2 AUT1 OMBO EPP ANTI-ICE LI CCO ECO-S WINTERIZATION(-30) Gas carrier type 2G (methane). The ultramodern Atlanticmax gas carriers with membrane cargo tanks of 170 000 cu m capacity are provided with equipment suitable for operating in low temperature conditions. This will enable the ships to perform year-round transportation of gas basically from all existing LNG terminals. SCF Mitre (hull No S-1913) is the second ship ordered by OAO Sovcomflot under the long-term agreement with Shell. The first ship – SCF Melampus – was launched on November 5, 2013.

25 Jan 2013

Russian LNG Carrier Launched

LNG carrier 'Velikiy Novgorod': Photo credit SCF

Sovcomflot’s new state-of-the-art LNG carrier 'Velikiy Novgorod' launched from STX Offshore & Shipbuilding shipyard. The Velikiy Novgorod was ordered by OAO Sovcomflot for operations under a long-term agreement with Gazprom Global LNG (part of Gazprom) as the first of two vessels ordered by SCF from STX Offshore & Shipbuilding Co. Ltd and her construction is scheduled to be completed in December, 2013. At the end of June, 2012, a steel cutting ceremony was held for the second gas carrier in the same series, Pskov, which is due to be delivered in 2014.

26 Dec 2012

Arctic Navigation Training Center Opened in Russia

At Simulator Controls: Photo credit Sovcomflot

OAO Sovcomflot opens its Saint-Petersburg captain & senior officer training & engineering centre (TEC) for Arctic offshore operations. The opening of the modern training centre in Russia’s maritime capital marks an important milestone in the implementation of the SCF development strategy which provides for an expansion of company participation in oil & gas projects in the Arctic and sub-Arctic. Sovcomflot vessels provide year-round support for large offshore energy projects, such as: Sakhalin-I, Sakhalin-II, Varandey, Tangguh, Escobar, and Peregrino.

09 Feb 2011

Prisco Sells Six Tankers

Primorsk International Shipping Limited (Prisco) announced the en bloc sale by Prisco and purchase by OAO Sovcomflot (SCF) of six tanker vessels employed on the Sakhalin shuttle trades. The terms of the sales were not disclosed. Two of the vessels are time-chartered to Exxon Neftegas Limited (“ENL”) for Sakhalin -1 oil export operations. Both vessels will continue operations under current agreement with ENL. Three other vessels are on charter to Sakhalin Energy Investment Company Ltd (Sakhalin Energy). The sixth vessel is fully equipped, designed and constructed for Sakhalin shuttle service and was formerly chartered to ENL. This transaction will be completed in February 2011 and has the approval of the relevant charterers. m.v. m.v. m.v. m.v. m.v. m.v.

23 Sep 2003

Wärtsilä Gensets for Sovcomflot tankers

Wärtsilä Corporation was awarded a contract by Admiralty Shipyards in St Petersburg to supply 12 generating sets based on Wärtsilä 20 diesel engines for tanker newbuildings for the Russian shipowner OAO "Sovcomflot". The generating sets will be installed in four 47,000 tdw product tankers due for delivery in 2004 and 2005. engine. The three sets will have a combined power of 3400 kW at 900 rev/min. A special requirement for the generating sets is for stability of the electrical power supply. by employing oversized alternators. Sovcomflot is the largest Russian shipowner and operates world-wide. with a total capacity of 3.51 million tonnes deadweight. years by deadweight. Tankers form the majority of the tonnage, 3.18 million tdw in 33 ships.

23 Sep 2003

Wärtsilä Generating Sets for Sovcomflot Tankers

Wärtsilä Corporation has recently been awarded a contract by Admiralty Shipyards in St Petersburg to supply 12 generating sets based on Wärtsilä 20 diesel engines for tanker newbuildings for the Russian shipowner OAO "Sovcomflot". The generating sets will be installed in four 47,000 tdw product tankers due for delivery in 2004 and 2005. Two of the sets in each ship will be powered by Wärtsilä 8L20 engines, with the third being driven by a Wärtsilä 4L20 engine. The three sets will have a combined power of 3400 kW at 900 rev/min. A special requirement for the generating sets is for stability of the electrical power supply. This is being ensured by employing oversized alternators. Sovcomflot is the largest Russian shipowner and operates world-wide.