Igor Tonkovidov News

U.S. sanctions are limiting tanker activity for Russia's top shipping group, Sovcomflot, the company's head said on Tuesday, as Washington tightens the screws on Moscow.The U.S. imposed sanctions on Sovcomflot on Feb. 23 as Washington seeks to reduce Russia's revenues from oil sales that it can use to support its military actions in Ukraine.Sanctions have impacted the company's operations, "limiting our geography and commercial prospects", Sovcomflot CEO Igor Tonkovidov told reporters.He added that as sanctions are a relatively new instrument to the shipping market…

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.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…

Russian shipping firm Sovcomflot and oil firm Gazprom Neft have signed an agreement to develop innovative technologies and use low-carbon fuels in maritime transport.The document was signed by Igor Tonkovidov, President and CEO of Sovcomflot, and Alexander Dyukov, Chairman of the Management Board, CEO, Gazprom Neft.The agreement defines that the two Russian companies will seek cooperation opportunities in the reduction of ship emissions and reinforcement of safety and efficiency…

A group of Russian maritime stakeholders have agreed to develop ship repair cluster in the country’s Far East.The trilateral agreement between PAO Sovcomflot, SMART LNG (a joint venture between PAO Sovcomflot and PAO NOVATEK) and Far Eastern Shipbuilding and Ship Repair Center (FESRC, a subsidiary of Rosneft) was signed by: Andrey Shishkin, CEO of FESRC and Vice-President for Energy, Localization and Innovation of Rosneft; Igor Tonkovidov, President and Chief Executive Officer of Sovcomflot, and Sergey Frank, Chairman of the Board of Directors of SMART LNG.

PAO Sovcomflot (SCF Group) has received confirmation from TotalEnergies of the exercise of its option for two further next-generation 174,000-cubic-meter-capacity liquefied natural gas (LNG) carriers.

PAO Sovcomflot (SCF Group) and Total have concluded a time charter agreement for up to seven years for a newbuild 174,000-cubic-meter-capacity liquefied natural gas (LNG) carrier, scheduled to be delivered Q3 2023 and to be owned and operated by SCF, with options for up to two additional vessels.The new vessel will be the latest in a series of SCF’s new-generation conventional Atlanticmax LNG carriers, with three sister ships already in operation: SCF La Perouse, SCF Barents and SCF Timmerman.The vessel will be fitted with an X-DF propulsion system…

Russian shipping company PAO Sovcomflot (SCF Group) on Friday took delivery of SCF Timmerman, a new 174,000-cubic-meter-capacity liquefied natural gas (LNG) carrier. The ship embarked on its maiden commercial voyage the same day, and is operated under a long-term time charter agreement with Shell, which will provide SCF with an additional $165 million of contract backlog.The ship is named after Frans Timmerman, a 17th-century Dutch merchant who served as a shipbuilding mentor to the Russian emperor Peter the Great and played an important role in creating the Russian seaborne fleet.

Russia's Zvezda Shipbuilding Complex has started building the first in a series of 15 icebreaking liquefied natural gas (LNG) carriers ordered for year-round gas transport along the Northern Sea Route from the Arctic LNG 2 project in Russia's high north. They will be the first such vessels constructed domestically.Shipbuilding, financing, lease and time charter contracts for the new ships were signed by SCF Group, NOVATEK Group, Zvezda and VEB.RF Group in 2019. The lead LNG carrier…

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has signed shipbuilding contracts with Russia's Sovcomflot and Japan's Mitsui O.S.K. Lines for the construction of six icebreaking Arc7 liquefied natural gas (LNG) carriers based on a newly developed design.The new ships will be the second generation of vessels engineered to transport LNG from the Russian Arctic, with special emphasis on year-round operation in the eastern sector of the Northern Sea Route.DSME…

Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources.The move by the state-controlled firm comes as Russian airline Aeroflot also plans to raise capital in a secondary public offering (SPO).For Aeroflot, the cash is needed to fight the economic fallout from the COVID-19 pandemic.Sovcomflot (SCF) which is raising money to spend on new projects and reduce debt aims to list in early October…

Sovcomflot, a Russian oil and gas shipping company,  has taken delivery of SCF Barents, a new 174,000-cbm LNG carrier.The vessel was delivered Monday and has already started its maiden voyage under a long-term time charter agreement with Shell.According to Sovcomflot, the LNG carrier was named after Willem Barents, a prominent Dutch navigator and explorer. The naming ceremony, held on September 10, was attended by Igor Tonkovidov, President and CEO of SCF Group; Cederic Cremers…

Russian energy shipping company Sovcomflot reported a net profit for the first half of 2020 of $226,4 million, a 148.8 percent increase to last year's first-half income of $91 million. The first half 2020 revenue was $951,3 million, up from $794,1 million in the first half of 2019.Igor Tonkovidov, President and CEO of SCF Group said  Friday that the company had achieved its targets with an optimal balance of long- and short-term charter contracts, together with a rational geographic distribution of vessels.

ABB has signed a contract to support icebreaking LNG carrier Christophe de Margerie with remote diagnostics services for increased safety and performance as the vessel completed the transit of the Northern Sea Route, bound for China with Yamal LNG cargo two months earlier than usualThe pioneering icebreaking liquified natural gas (LNG) carrier Christophe de Margerie will now have round-the-clock remote support provided through ABB’s global network of eight ABB Ability Collaborative Operations Centers.

Sovcomflot's Arc7 ice-class Christophe de Margerie liquefied natural gas (LNG) carrier has made history by successfully transiting the Eastbound ice-covered part of the Northern Sea Route (NSR) in May, carrying LNG from Novatek's Yamal LNG project to China.The Russian vessel owner said the event marked the first time in the history of the shipping industry that a large-capacity vessel of this class has passed along the Northern Sea Route eastwards in May when the ice conditions in the eastern sector of the NSR are rather difficult.

Russia's state-owned tanker carrier Sovcomflot (SCF Group) reported improvements on both the top and bottom line in the third quarter benefiting from a stronger tanker market.The energy shipping company posted a net profit of  $26m as revenue increased in the third quarter.Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot, said: “We are satisfied with the Group’s performance over the third quarter. Sovcomflot steadily follows through on its strategy of increasing the share of large-scale industrial shipping projects in its portfolio."He added: "During the reporting period, Sovcomflot achieved a major strategic milestone when we agreed with NOVATEK to establish a new joint venture, SMART LNG.

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.

Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control of Sovcomflot and take over as chairman of the company's board, two of the sources said.It was not immediately clear why Frank, 59, was moving position.

ABB has won a contract to supply ABB Ability Remote Diagnostic Systems for Marine to eleven Sovcomflot vessels operating in the Arctic and Russia’s Far East, helping optimize safety and performance through 24/7 remote support.Sovcomflot’s vessels will be among over 1,000 ships connected to ABB Ability Collaborative Operation Centers worldwide. From here, ABB experts monitor operational shipboard systems, coordinate remote equipment diagnostics and offer predictive maintenance services – 24/7. This can be especially crucial for vessels operating in remote areas.

Russian maritime shipping company PAO Sovcomflot approved transactions with Zvezda Shipbuilding Complex (Primorsky Region) and a subsidiary of JSC VEB Leasing to place orders for the construction of three new-generation MR product carriers using LNG as their main fuel.The vessels will be chartered to a subsidiary of PJSC NOVATEK under twenty year time-charter agreements, said a press release from the state-owned firm specializing in LNG shipping.Sergey Frank, President and CEO of Sovcomflot, said: "We are grateful to PAO Sovcomflot’s shareholder and our partners PJSC NOVATEK and VEB.RF for supporting SCF’s environmental initiative that…

Russian shipping company PAO Sovcomflot (SCF Group) has achieved significant CO2 emission cuts since taking delivery of the first of its “Green Funnel” LNG-fueled Aframax crude oil tankers last year.PAO Sovcomflot (SCF Group) has accumulated data showing that using LNG as a primary fuel for these large-capacity tankers enabled a 30 per cent reduction of CO2 emissions compared with similar vessels powered by traditional heavy fuel. This reduction exceeds the original design target values.Igor Tonkovidov, Executive Vice President and CTO/COO of Sovcomflot, delivered a report on the first results of operating ‘Green Funnel’ series tankers…

Russian shipping company Sovcomflot and compatriot oil producer Gazprom Neft Marine Bunker have signed an agreement to cooperate on projects for bunkering ships with LNG fuel.The agreement was signed by Igor Tonkovidov, Executive Vice President and CTO/COO of Sovcomflot, and Andrey Vasiliev, CEO of Gazprom Neft Marine Bunker.Sovcomflot said that the agreement reinforces the mutual interest of both parties regarding their cooperation in the bunkering of Sovcomflot’s tankers with LNG fuel.Compared to conventional marine fuels, the use of LNG fuel allows to significantly reduce emissions of sulphur oxides, nitrogen oxides, carbon dioxide…

An icebreaking liquefied natural gas (LNG) carrier has completed a record journey through the Northern Sea Route (NSR) in the Arctic.The Christophe de Margerie owned and operated by Sovcomflot (SCF Group) covered the distance of 2,360 nautical miles eastward through the NSR, from the port of Sabetta (Yamal Peninsula) to Cape Dezhnev (the Bering Strait), in seven days and 17 hours, a new record time for a merchant ship without icebreaker support during the month of July. Throughout the record-setting passage…

Russia’s PAO Sovcomflot (SCF Group) currently operates 10 vessels that serve the Sakhalin-2 project, including three oil tankers, two liquefied natural gas (LNG) carriers and five icebreaking supply and standby vessels. Its latest addition to this specialized fleet, a newly built multifunctional icebreaking standby vessel (IBSBV), was formally named Fedor Ushakov at a ceremony on October 11. The vessel is the third in a series of four IBSBVs purpose-designed for operating in the…