Sovcomflot News

18 Mar 2019

Sovcomflot Updates Fleet Strength

Image: PAO Sovcomflot

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) said that Yevgeny Primakov (Icebreaker Ice-15) joined the fleet, the final vessel in a series of four new generation IBSV’s, engaged under a long-term time-charter agreement with Sakhalin Energy.The shipping company added that this makes a total fleet of 10 supply and standby vessels servicing Nogliki Base Camp (SEIC and ENL) at Sakhalin island (Sea of Okhotsk).The world’s first Aframax tanker to use LNG as her primary fuel Gagarin Prospect (114…

18 Mar 2019

SCF Registers Growth in Offshore Revenues

Image: SCF Group

The energy shipping company PAO Sovcomflot (SCF Group) has managed to increase its revenue base and achieved a profit of USD 11.9 million against a USD 106.2 million loss in 2017.The annual results reflected a strong contribution from the industrial shipping business (comprising offshore services and LNG transportation). These activities now account for 57.2 per cent of the Group’s TCE revenues (up from a 50.9 per cent share in 2017).Taking into account the challenging conditions in the conventional tanker markets…

15 Jan 2019

Weak Freight Markets Hobble Sovcomflot IPO

(Photo: Sovcomflot)

Russian state-owned shipping company Sovcomflot said on Tuesday that uncertain conditions in the freight market are delaying its long-planned initial public offering (IPO).The Russian government has weighed a listing of Sovcomflot for years as part of broader privatization plans, but obstacles ranging from weak markets to international sanctions placed on Russians over Moscow's role in Ukraine crisis have prevented an IPO.The Russian economy ministry has said it had hoped to raise…

18 Jan 2019

LNG REPORT: 143 LNG-Powered Vessels in Operation, 270 to Come

Image: SEA\LNG

Currently, the liquefied natural gas (LNG)-powered fleet has grown globally from 118 LNG-powered vessels in operation in 2017, to 143 LNG-powered vessels in operation – with a further 135 on order and 135 LNG-ready ships either in operation or on order.According to the LNG bunkering coalition SEA\LNG, Orders for LNG-powered vessels span a variety of vessel types including tankers, cruise ships, container ships, car carriers, and Very Large Ore Carriers (VLOC)s.A press note issued by Peter Keller…

18 Jan 2019

Zvezda Shipyard Order Jumps Up by 42%

Image: Zvezda Shipyard

Russian Zvezda Shipbuilding Complex has increased its portfolio of orders by 42 percent in the second half of 2018.The shipbuilding and engineering complex in the town of Bolshoy Kamen in the Russian Far East said that currently, it has a total of 37 vessels in its orderbook and is in the process of securing new contracts.Zvezda’s anchor customer is Rosneft, which placed an order for 26 vessels, including 12 Arc6 and Arc7 ice-class tankers, 4 ice-class multi-purpose support vessels…

31 Jan 2019

UAE, Greece, USA: Worst Vessel Dumpers

Pic: NGO Shipbreaking Platform

The United Arab Emirates (UAE), Greece and the United States of America (USA) top the list of country dumpers of ocean-going commercial vessels in 2018, according to new data released today by the NGO Shipbreaking Platform.UAE owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2018: there were 61 ships in total.Greek owners, beached 57 vessels out of a total of 66 sold for demolition. American owners closely followed with…

02 Jan 2019

Sovcomflot Orders Three LNG-fueled Tankers from Zvezda Shipyard

File Image / AdobeStock / © Burnel11

On December 28, 2018, Sovcomflot (SCF Group) placed an order at Zvezda shipbuilding complex for construction of three new generation product carriers that use cleaner-burning LNG fuel as their primary fuel.Three MR-class vessels will have a deadweight (DWT) of 51,000 tonnes each. They will transport petroleum products and gas condensate and will be chartered to Novatek under long-term time charter agreements. Each tanker will have an ice class of 1B, enabling safe operations in areas with challenging ice conditions, including the Baltic.Using LNG fuel enables to significantly reduce emissions.

14 Nov 2018

SCF Inks Deal to Finance LNG Carrier

Nikolai Kolesnikov Senior EVP & CFO PAO Sovcomflot

Sovcomflot concludes USD 149 million project credit facility for up to 10 years with three leading European banks.Sovcomflot (SCF Group) is pleased to announce that it has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks, comprising: ING Bank N.V.; KfW IPEX-Bank GmbH, and Crédit Agricole Corporate and Investment Bank.The funds will be used towards financing the construction of a new generation 174,000-cubic metres Atlanticmax LNG carrier.

15 Nov 2018

Sovcomflot Gets $149m Credit Facility for LNG Carrier

Ice-breaking LNG carrier Christophe de Margerie. Photo: Sovcomflot

Russian maritime shipping company Sovcomflot has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks, comprising: ING Bank, KfW IPEX-Bank GmbH, and Crédit Agricole Corporate and Investment Bank.Russian shipowner specializing in petroleum and LNG shipping said that the funds will be used towards financing the construction of a new generation 174,000-cubic metres Atlanticmax LNG carrier.The vessel will feature a slow-speed tri-fuel X-DF diesel engine and gas boil-off partial liquefaction system.

18 Dec 2018

Sovcomflot completes USD 900 mln in Foreign Investment

Nikolay Kolesnikov, Senior Executive Vice-President and CFO of Sovcomflot (sitting in the centre) together with the signees from KfW IPEX-Bank, Credit Agricole, ING Bank, Societe Generale, Citibank, UniCredit, and DVB Bank (sitting, from left to right). Photo: Sovcomflot

Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan, with total new debt capital raised this year amounting to circa USD 900 million, said Nikolay Kolesnikov, Senior Executive Vice-President, Chief Financial Officer of PAO Sovcomflot."The fund allows us to fully address the Group’s mid-term financing requirements…

01 Nov 2018

Sovcomflot's Lomonosov Prospect Transists Northern Sea Route on LNG

Lomonosov Prospect. Photo: PAO Sovcomflot (SCF Group)

PAO Sovcomflot (SCF Group)'s large-capacity  LNG-fueled Aframax tanker Lomonosov Prospect has successfully completed its first commercial voyage along the Northern Sea Route (NSR) to deliver a cargo of petroleum products from the Republic of Korea to Northern Europe.The high-latitude voyage from Cape Dezhnev at Chukotka to Cape Zhelaniya of the Novaya Zemlya archipelago took the Arc4 vessel 7.8 days to complete, during which the tanker covered a distance of 2194 nautical miles.During the voyage…

04 Oct 2018

Milestone LNG Bunkering for Shell and Sovcomflot in Rotterdam

(Photo: SCF Group)

Shell delivered its first ship-to-ship bunkering of liquefied natural gas (LNG) from specialized LNG bunker vessel Cardissa in the Port of Rotterdam on Tuesday, marking a number of key milestones as the maritime sector increasingly turns toward cleaner burning LNG fuel.The bunkering of the Sovcomflot's Aframax tanker Gagarin Prospect with LNG is the first operation under a fuel supply agreement between Shell and Sovcomflot signed in 2017, which helped pioneer the expansion of LNG fuel into the tanker industry and…

26 Nov 2018

LNG Carrier Pskov Completes First Open Water STS Transfer

Photo: SCF Group

On 24 November 2018, the LNG carrier Pskov successfully completed the first LNG ship-to-ship transfer operation for the Yamal LNG Project. Pskov loaded some 170,000 cu. m. of liquefied gas, which was delivered from the Port of Sabetta (Yamal Peninsula) to the transshipment point by one of the Arctic LNG carriers chartered by Yamal LNG.The cargo transshipment was carried out at the safe anchorage off the port of Honningsvåg, Norway. Upon completion of the transshipment, Pskov proceeded…

14 Dec 2018

Christophe de Margerie Loads First Cargo from Third Train Yamal LNG

Ice-breaking LNG carrier Christophe de Margerie. Photo: Sovcomflot

The Arctic LNG carrier Christophe de Margerie, owned and operated by Sovcomflot, loaded the first batch of liquefied natural gas (LNG) produced at the third train of Yamal LNG plant, at the Port of Sabetta on the Yamal Peninsula.Dmitry Medvedev, the Russian Prime Minister, initiated the start of cargo operations via a video conference with the vessel’s Master Sergey Zybko.Dmitry Medvedev congratulated Yamal LNG on reaching full production capacity and noted:“This is a significant milestone for the entire Russian gas industry and…

05 Sep 2018

Three New Arctic-class Ships on Way to Yamal LNG Terminal

© Luksa Karaman / MarineTraffic.com

Three new liquefied natural gas (LNG) tankers capable of plowing through the Arctic ice have completed sea trials in recent weeks and are due to start operations at the Yamal LNG terminal in northern Russia, Reuters shipping data shows.Novatek's Yamal terminal has been ramping up LNG shipments faster than expected after loading its first cargo in December 2017, with two trains now running at capacity and a third being commissioned.As part of the project, the first along northern Russian shores that are trapped by thick ice for most of the year…

11 Sep 2018

Sovcomflot and ABB Open Training Center in Russia

Left to right: Russian Minister of Transport Evgeny Ditrich and Sergey Frank CEO Sovcomflot (Photo: SCF Group)

The new Vessel Electric Propulsion Training Center at the Admiral Nevelskoy Maritime State University in Russia will help to prepare seafarers for work on vessels equipped with Azipod propulsion systemsThe center will be used to train MSUN cadets, as well as to provide advanced training to commissioned officers of the merchant fleet. It is also planned to conduct research, including scientific and experimental activities, in the area of automation of electric propulsion and vessel power supply.The establishment of the center follows the trilateral research…

24 Aug 2018

Clean Arctic Alliance Welcomes Russian-Finnish Deal on Green Fuel

Image: Clean Arctic Alliance

The Clean Arctic Alliance welcomes the joint statement by  Russian President Vladimir Putin and Finnish President Sauli Niinisto on the need to move to cleaner ships’ fuels such as LNG in the Arctic.Speaking on behalf of the Clean Arctic Alliance, Alexey Knizhnikov of WWF Russia said that “the risks of using heavy fuel oil in the Arctic are too high, and we welcome President Putin and President Niinisto’s vision and leadership in seeking to move to cleaner fuels for Arctic shipping.

09 Aug 2018

Khaydukov Named President of PAO Novoship

Alexey Khaydukov (Photo: SCF Group)

The Board of Directors of Russian tanker shipping company PAO Novoship has elected Alexey Khaydukov as the company’s new President.Khaydukov replaces the firm’s previous President, Yury Tsvetkov, who stepped down from his role on August 8, 2018, following his appointment as a Deputy Minister of Transport of Russia, Head of the Federal Agency for Maritime and River Transport.Prior to his appointment, Khaydukov was Managing Director of SCF Management Services (Novorossiysk) Ltd.

10 Aug 2018

Sovcomflot's Pskov Loads First Cargo from Yamal LNG

Image: Sovcomflot Group

The liquefied natural gas (LNG) carrier Pskov completed loading at the Port of Sabetta (YNAD), with the first cargo of LNG produced from the second high-tech production line at the Yamal LNG plant.August 08 marked the launch of the second production train at Yamal LNG, which happened six months ahead of schedule.Pskov is a state-of-the-art Atlanticmax LNG carrier with a cargo capacity of 170,000 cubic metres. She was built to order for Sovcomflot Group in 2014, to transport LNG under a long-term time charter agreement with Gazprom.

31 Aug 2018

Sovcomflot Group Launches SCF Far East Tall Ships Regatta 2018

Photo: PAO Sovcomflot

Russia’s largest shipping company Sovcomflot Group (SCF Group) informed that the SCF Far East Tall Ships Regatta 2018 was officially launched. This marks the first time that Russia’s Far East will host an international tall ship race.The principal competition begins on 1 September with the race from Yeosu (South Korea) to Vladivostok, with over 20 vessels from Russia, Japan, China, South Korea, Indonesia, and other countries competing to be the first to cover the distance of over 500 nautical miles. The ships are expected to arrive to Vladivostok on 8-9 September 2018.

21 Aug 2018

PDVSA to Resume Use of Caribbean Oil Terminal

© korkeakoski / Adobe Stock

Venezuela's PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in the Caribbean, the U.S. energy firm said on Monday.NuStar had suspended PDVSA several times since 2017 from using its St. Eustatius facility over millions of dollars in missed payments.The terminal played a role in a legal dispute between PDVSA and ConocoPhillips, which earlier this year tried to enforce a $2…

11 Sep 2018

Rosneft Orders Two Oil Tankers from Zvezda Shipyard

A previously delivered vessel of the same class of Green Funnel tankers (Courtesy SCF Group)

Russian oil company Rosneft announced it has ordered two Aframax crude oil tankers to be built at Russia's far eastern Zvezda shipyard for scheduled delivery in 2022.The Russian-flagged vessels will have a deadweight of 114,000 metric tons and a 1A/1B ice class, which makes them able to operate in icy conditions year round, including in sub-Arctic seas and Russian ports of the Baltic region, said Russian shipping company PAO Sovcomflot (SCF Group).According to the documents, Arctic Leasing will place orders for construction of the two Aframax tankers at the shipyard…

11 Sep 2018

Shipbuilding: Sovcomflot Orders Two LNG-Fueled Tankers

Though the tanker market has been a global maritime laggard in 2018, with overcapacity cited as the chief culprit, apparently it could not dissuade PAO Sovcomflot (SCF Group) from inking a deal wih Rosneft, Zvezda Shipbuilding Complex and VEB Group for a pair of Aframax tankers. VEB-Leasing will finance the construction, and Rosneft signed a 20-year time-charter for the pair.The 114,000 dwt ships will be LNG fueled and 1A/1B ice class, able to operate year-round in areas with difficult ice conditions, including sub-Arctic seas and Russian ports of the Baltic regio“We welcome the plans of the Russian shipbuilders, from Zvezda Shipbuilding Complex…

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News