Sberbank, Sovcomflot Sign $106m Finance Deal
The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years. The funds will finance the construction of a high ice class Arctic shuttle tanker (Arc7) for the Novy Port project, under a long-term agreement with Gazprom Neft. This is the third major transaction of its kind between Sberbank and Sovcomflot. The first joint project between the companies was in 2015, to finance the construction of three Arctic shuttle tankers to transport crude oil from the Novy Port field.
Sovcomflot tankers Move one mi tonnes oil from Novy Port O&G condensate field
Sovcomflot’s three unique Arctic shuttle tankers, of the Shturman Albanov series, have now transported one million tonnes of crude oil produced at the Novy Port oil and gas condensate field, from the Gulf of Ob (Kara Sea) to the port of Murmansk. The milestone millionth tonne cargo of oil was loaded on Shturman Albanov on 29 January 2017 at the Arctic Gate marine terminal located near Cape Kamenny (Gulf of Ob). In total, SCF tankers have completed 33 voyages with Novy Port grade oil since last autumn.
First Shipment of Russian Novy Port Oil
Gazprom Neft provided a summer shipment of oil from Novoportovskoe deposit – for the first time, the raw material was taken by sea and sent to European consumers, according to Russian official news agency Arctic-Info. The new oil called Novy Port is the light and low sulfur content (about 0.1%) category and exceeds not only the Russian Urals blend in quality, but also Brent. The tanker will deliver the raw materials to Europe in September, and in the ice-free season of 2014, it is planned to sent out two tankers with more than 80,000 tonnes of the new variety of Novy Port oil.
Sovcomflot Group, Sberbank CIB Sign Credit Facility Agreement
Sovcomflot Group and Sberbank CIB have signed a 14-year $340 million credit facility agreement to finance the construction of three Arctic shuttle tankers for the Novy Port project (project operator: Gazprom eft). Novy Port is one of the largest oil and gas condensate deposits on the Yamal peninsula in Russia. The vessels will serve as part of project infrastructure designed to enable year-round shipment of crude oil from an offshore loading terminal in the Gulf of Ob. The commercial production from the field will start in 2016. The transaction involves Sberbank Europe AG, a subsidiary bank of PJSC Sberbank. Commenting on the transaction…
Bids Placed for Novy Port Icebreaker Contract
The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off, seeing seven companies submit bids for the project, IAA PortNews reported. The tender, announced by Vyborg Shipyard entrusted to build the vessels, received bids for the icebreaker’s design and construction from Spetssudoproekt CJSC, Nordic Yards Holding GmbH, Aker Arctic, FSUE Krylov State Research Center, Design Bureau for Shipbuilding “Vympel” OJSC, Marine Engineering Bureau – Design-SPb CJSC, and KhS Morskoye Proektirovanie LLC.
Wärtsilä Power for Two Icebreakers
Two new Aker Arctic designed icebreakers, under construction at the PJSC Vyborg Shipyard in Russia, will have their main power provided by Wärtsilä generating sets. The ships are being built for Gazprom Neft based in St.Petersburg, Russia. The contract was agreed between Wärtsilä and Ruselprom Group and was signed in October. The new icebreakers will operate in arctic conditions with outside air temperatures as low as minus 50°C and ice thicknesses up to 2 metres. Because of these challenging operational considerations…
Russian Award for Sovcomflot
PAO Sovcomflot (SCF Group) was awarded first prize at the 2017 International Competition of Scientific, Technical and Innovative Developments aimed at the Exploration and Development of the Arctic and the Continental Shelf, held under the auspices of the Russian Ministry of Energy. The prize was awarded to a team of Sovcomflot experts for the development and practical implementation of technological solutions enabling year-round oil shipments from the Gulf of Ob. The winning team was led by Igor Tonkovidov, Executive Vice-President and Chief Technical Officer of Sovcomflot.
Icebreakers Ordered for Neft’s Novy Port Project
Aker Arctic and Vyborg Shipyard have confirmed a contract for the design of two new icebreakers based on Aker ARC 130 A design. The icebreakers will be used in the oil terminal operated by LLC Gazprom Neft Novy Port in the Gulf of Ob. The new icebreakers represent a further development of the Aker ARC 130 icebreaker concept originally developed for the Finnish Transport Agency. The new design, Aker ARC 130 A, will utilize similar propulsion concept consisting of three azimuth thrusters – two in the stern and one in the bow of the vessel.
Sovcomflot Profits slip
Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and strengthen its financial position while continuing to enhance its industrial projects portfolio in accordance with its Development Strategy. * Five new vessels launched: pioneering 172,600 m3 capacity ice breaking LNG carrier (Arc7 ice class) for Yamal LNG project (January)…
Vyborg Shipyard to Build Icebreaker
Vyborg Shipyard signed a License and Concept Design Agreement with the Finnish engineering company Aker Arctic Technology for two icebreaking support vessels. Two multifunctional diesels-electric- powered icebreakers 22 MW will be built at Vyborg Shipyard by order of LLC Gazprom Neft Novy Port. In the nearest time Aker Arctic engineers will start development of concept design package and perform model tests in open water and in ice conditions. At a later stage on the basis of the concept design there will be developed technical design for the vessels.
Market Volatility Affects Sovcomflot
Sovcomflot is one of the world’s leaders in energy shipping as well as in servicing offshore upstream oil and gas projects. It has reported lower time charter equivalent revenue (TCE) of USD 1,142.2 million (2015: USD 1,240.1 million), EBITDA of USD 706.5 million (2015: USD 780.1 million) and net profit of USD 206.8 million (2015: USD 354.5 million). Sergey Frank, President and CEO of Sovcomflot said: “Sovcomflot has delivered a solid set of results for 2016, despite market volatility in a year that has severely tested our industry.
UK Port's Post-Brexit Health Concern
British Ports Association warned that without agreements on cross-border environmental health standards there could be major disruption at UK and EU ports. Richard Ballantyne, Chief Executive of the British Ports Association, said: “Perhaps one of the biggest Brexit challenges ports could face is accommodating new environmental health standards inspections at the border. As the report highlights, delays resulting from inspections at border would lead to increased costs, creating congestion and particular issues for perishable goods.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Ports of Indiana: Building on Success
The Ports of Indiana is a statewide port authority, established in 1963, which operates three ports: two on the Ohio River, one on Lake Michigan. Port officials refer to the three as “America’s Premier Inland Port System.” They cite location, location, location, providing access via two critical freight arteries – the Great Lakes and the Inland Waterway System and proximity to the world’s most productive industrial and agricultural regions. The Ports is the only statewide port authority in the Midwest.
Digitalisation of Ports is Fourth Industrial Revolution
The digitalisation of ports and terminal operations offers ways to realise a “fourth industrial revolution”, bringing with it safety, operational, and environmental benefits, delegates heard at the Port Equipment Manufacturers Association (PEMA) annual general meeting, which was held in the Spanish port city of Bilbao. Digitalisation themes that were explored during presentations included artificial intelligence, data management, cyber-physical systems, and interoperability between…
Rotterdam Port Hits Record Freight in 2017
The port of Rotterdam, Europe’s largest, continued to grow in 2017 spurred by a significant gain in container throughput, which increased by 1.3% to 476 (461) million tonnes with the port returning to the growth trend seen before 2016. Particularly strong growth in container throughput of 12.3% (in tonnes) was the main driver of growth in the port of Rotterdam throughout 2017. Total cargo throughput rose by 1.3%, with the port returning to the growth trend seen before 2016. The increase in containers was offset by a fall in dry bulk of 2.6% and in wet bulk of 4.1%.
Wallenius Wilhelmsen Logistics Doubles Footprint in Port of Zeebrugge
Wallenius Wilhelmsen Logistics has signed a concession agreement with the Port of Zeebrugge to develop 49 hectares of land known as the Bastenaken West property located in the inner port. With this concession, in place until 2043, the company will nearly double its terminal footprint. WWL will invest about USD 20 million during the next two to three years. “The agreement marks the next step in WWL’s long-term commitment to the Port of Zeebrugge, the largest RoRo port in the world…
Indian PM Narendra Modi Lays Foundation Stone For JNPT Fourth Countainer Terminal
India's biggest container traffic handler Jawaharlal Nehru Port (JNPT) has achieved yet another milestone in its ambitious journey to become a world class maritime hub when the Prime Minister Narendra Modi laid the foundation stone for the fourth container terminal, proposed to be developed at an estimated cost of Rs. 7915 Crores (USD 1.23 bln) on DBFOT basis. Modi arrived at the JNPT Helipad- accompanied by the Maharashtra Governor Ch. Vidyasagar Rao, Union Minister of Shipping, Road Transport & Highways Nitin Gadkari, the state Chief Minister Devendra Fadanvis and other dignitaries.
Port of Hamburg Getting Ready for Future Growth
Europe's third-largest container port, Port of Hamburg, is preparing for the future with improved infrastructure and digitalization. Frank Horch, Hamburg’s Senator for Economics, Transport and Innovation, said: "The Port of Hamburg must become a Port 4.0 , with digitalization and how this will change supply chains. We will improve the infrastructure, implement the fairway adjustments and secure good general conditions. When extending the port it will be important to identify how Hamburg as a broad based universal port can be economically sustainable…
SCF's Profit Zoom Fourfold
SCF Group (PAO Sovcomflot) reported steep jump in their net profit to USD 354.5 million from USD 83.9 million in the earlier year. Its gross revenue increased by 7.6 per cent to USD 1,483 million (2014: USD 1,378 million) and its time charter equivalent revenue rose by 18.8 per cent to USD 1,240.1 million (2014: USD 1,044.0 million). The company said that its total future contracted revenues amounted to USD 8.5 billion. During the year LNG carriers SCF Melampus and SCF Mitre (each 170,200 m3 capacity) were delivered and commenced long-term time charters to Royal Dutch Shell.
Russian Icebreaker Construction Underway
The ceremonial launch of construction of the lead icebreaking support vessel for Gazprom Neft Novy Port was held today at Vyborg Shipyard, a corporate member of the United Shipbuilding Corporation. Guests were greeted by Kirill Voroshilov, First Deputy General Director of the Vyborg Shipyard, who noted, “The newbuild laid down at the shipyard is a multipurpose vessel and is capable of coping with a great number of tasks while operating in heavy ice conditions. This icebreaking vessel is unique and to date it has been unrivalled on a global scale. The icebreaking support vessel will be built in accordance with a design targetting maximum icebreaking capability and considerable maneuverability with comparatively shallow draught.
Port of Antwerp Looking for Full-Time Representative in the UK
The port of Antwerp has decided to appoint a full-time representative in the UK, based in London, in order to keep in closer touch with the economic situation there now that Brexit is looming closer. "Antwerp Port Authority is now in search of a full-time representative to further raise Antwerp’s profile on the British market," said a press statement from the company. Attracting additional sources of trade and cargo will also form part of the new port representative’s job. With an annual freight volume of nearly 14 million tonnes (2017)…
CMA CGM Improves SAMWAF Service
CMA CGM announced the port coverage improvement of its SAMWAF service connecting Brazil and Plata area to West Africa and South Africa strategic markets, in the effort to continue enhancing its product. As from February 16th, 2018 with m/v GERHARD SCHULTE, the lead product SAMWAF service operated with 6 vessels up to 3,800 TEU. SAMWAF will call the port of Itajai, Brazil on a weekly basis, in replacement of Navegantes.