Putin Approves Transfer of State-owned Shares in Shipping Company to Rosatom
President Vladimir Putin signed on Wednesday a decree transferring to Russia's state nuclear power company Rosatom state-owned shares of the Far Eastern Shipping Company, parent company of transportation group Fesco.Fesco was formerly controlled by Ziyavudin Magomedov, who was convicted last year on organized crime and embezzlement charges and is serving a 19-year jail sentence following one of the highest-profile prosecutions of a Russian tycoon in years.Magamedov says the charges are unfounded and is appealing his conviction.
Sovcomflot Elects New Chairman and New CEO
On September 24, 2019, the Board of Directors of PAO Sovcomflot elected Sergey Frank as its new Chairman. Igor Tonkovidov was appointed as the company's new Chief Executive Officer. Both appointments are with immediate effect.The meeting was attended by Maxim Akimov, Deputy Prime Minister of Russia, who noted in his address: "Through consistent implementation of Sovcomflot's Strategies 2005-2011 and 2012-2018, the company has transformed itself into a global leader in energy shipping and offshore services. Over the past 15 years, Sovcomflot fleet has grown more than threefold.
Kvaerner Masa-Yards Breaks the Ice in Russia
Subsequent to evaluation by ExxonMobil, operator of the Sakhalin-1 project in Russia, Kvaerner Masa-Yards Inc., Finland, and Far-Eastern Shipping Company PLC (FESCO), Russia, have signed contracts for the design and construction of two icebreaking stand-by and supply vessels for the Sakhalin-1 project. The contracts are still subject to approval by the Central Bank of Russia and to issues related to post-delivery financing. With the contract for the second ship to be confirmed by early November 2003…
Kvaerner Masa-Yards and Far-Eastern Shipping Company Confirm Contract
On September 5 Kvaerner Masa-Yards Inc. and to issues related to post-delivery financing. be confirmed by early November 2003. Kvaerner Masa-Yards Inc. subjects have been lifted for one vessel. FESCO did not confirm the second vessel contract at this stage. Russia. of 4.000 dwt. azimuthing electric propulsion. EUR 65 million.
Wärtsilä Engines for Russian Icebreaker
Wärtsilä won an order for four engines for installation on the first Sakhalin ice breaker to be built by the Kvaerner Masa-Yards shipyard in Finland. The vessel will be equipped with three 8-cylinder Wärtsilä 38 main engines in diesel electric drive and an additional 6-cylinder Wärtsilä 20 engine to power a harbor/emergency generating set. Kvaerner Masa-Yards has been commissioned to design and build the icebreaker by the Russian Far-Eastern Shipping Company PLC (FESCO). Headquartered in Vladivostok, FESCO is the largest shipping company in Eastern Russia. Its strategy is to be the leading operator of icebreakers and ice class vessels in East Asia. Scheduled for delivery to FESCO in 2005, the 4,000 dwt vessel will be 100 m long and have a shaft output of 13 MW.
Transas Equips New Ice-breaker
The ceremony to launch the new ice-breaker “Fesko Sakhalin” for Far Eastern Shipping Company (FESCO).built at the Finnish shipyard Aker Finnyards took place in May. A unique technical feature of this vessel is the absence of a helm. It is replaced by propellers (AZIPOD), which rotate 360 degrees; this enables the vessel to hold position without anchors, to move through ice in either direction, to approach an oil platform in stormy weather by means of laser placing. The vessel is also equipped with the latest navigation and communication systems supplied by Transas Ltd. The main task of “Fesko Sakhalin” is to provide an all-year-round service, preventing accidents on drilling platforms at Sakhalin shelf, as well as transportation of dry, liquid and chemical cargo, pallets and containers.
New Vessels for FESCO to be Built in China
A series of new vessels will be built in China for the Far-Eastern Shipping Company (FESCO). According to reports, the contract on building of four bulk carriers at the Chinese shipyard Quingshan Shipyard in the city Ukhan was made. Every bulk carrier will be 623 x 104 ft., deadweight 57,000 tons. Every vessel will be equipped with four loading cranes. The bulk carriers will work at transportation of bulked cargo - corn, coal, ore, pipes and others. According to the contract, building of cargo vessels will start in the beginning of 2009 and will be finished by the end of 2010. The shipyard is going to put in commission the first bulk carrier in June of 2010.
UK Club Elects New Directors
Three members of the U.K. P&I Club were elected to the board at the annual meeting in Kuala Lumpur on October 21. (FESCO). Carthew has spent all his working life in shipping and has been with Chevron for most of his career. planning department before becoming President of Chevron Texaco Shipping Company LLC, based in San Ramon, California. Sato joined NYK in 1973 and has worked primarily in the liner and car carrier areas of the business. He was based in New York and Milan before moving to London. He is now Chairman of NYK Lines (Europe) Ltd. Vasilchenko joined FESCO in 1967 and was at sea for four years as an officer on general cargo ships. officer before moving back to Vladivostock as manager of planning and finance. He is now Vice President of FESCO (Economics and Planning).
