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Sovcomflot Charters Two More LNG Carriers to TotalEnergies
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.
Keel Laid for First Russian-built Arc7 LNG Carrier
Russian shipbuilder Zvezda Shipbuilding Complex on Tuesday held a keel laying ceremony for a new Arctic liquefied natural gas (LNG) carrier ordered by compatriot shipowner PAO Sovcomflot (SCF Group).The newbuild is the lead vessel in a series of 15 carriers ordered from Zvezda for servicing the Arctic LNG 2 project. She is the first-ever vessel of such dimensions, cargo capacity and icebreaking capabilities to be constructed at a Russian shipyard.The series' lead ship will be owned by SCF…
Two Sovcomflot Tankers Chartered to the Sakhalin-2 Project
On 4 June 2021, Sovcomflot (SCF Group) and Sakhalin Energy, the operator of the Sakhalin-2 project, signed long-term time-charter contracts for two existing liquefied natural gas (LNG)-fueled Aframax tankers. The vessels Korolev Prospect and Vernadsky Prospect, part of SCF’s ‘Green Funnel’ series, will be delivered to the charterer in 2024 and employed to shuttle crude oil for the Sakhalin-2 project for 10 years, with an extension option for up to three years.
Sovcomflot, Shell ‘Green Funnel’ Project Hits LNG Fueling Milestone
Sovcomflot (SCF Group) and Shell performed a landmark 150th marine LNG fuelling operation for SCF’s ‘Green Funnel’ Aframax tankers.Since operations began in 2018, SCF’s ‘Green Funnel’ Aframaxes have taken more than 62,000 tonnes of marine LNG fuel from Shell and all 150 operations were reportedly performed safely without incident, injury or loss of fuel.The 150th operation was performed by Korolev Prospect…
Sovcomflot Ready to Buy Back up to $400 Mln of Eurobond-2023
Russia's biggest shipping company Sovcomflot says, according to Interfax news agency:The company is ready to buy back up to $400 million of Eurobond-2023, to finance it via new issue;The offer price is $1,072.25 per paper of a nominal price of $1,000;Sovcomflot plans to issue 7-year Eurobond, will hold calls with investors starting from April 14, Interfax cites a source.(Reporting by Moscow Newsroom)
First-Ever: Sovcomflot’s Gagarin Prospect Tanker in LNG Bunkering Milestone in U.S.
Russian oil and gas shipping giant Sovcomflot said Friday it had on March 15, together with Shell, "broke new ground," with the completion of the "first-ever Aframax tanker fuelling using LNG in the USA."Sovcomflot’s Gagarin Prospect tanker, on long-term charter to Shell, was en-route from Corpus Christi to Europe. It received 1,075 cubic metres of marine LNG from the Shell NA LNG LLC chartered Q-LNG 4000 outside the Port of Canaveral, Florida.
Lenders to Sell Polarcus' Vessels. All Employees to Be Laid Off
Lenders of the troubled marine seismic contractor Polarcus, which last week took control of the company's vessels after a debt payment default, will sell Polarcus' vessels and all the employees will be let go.Banks last week tool control of Polarcus' subsidiaries that own seismic vessels, with the subsidiaries in question being Polarcus Asima AS, Polarcus Alima AS, Polarcus Amani AS, Polarcus Adira AS…
Wärtsilä to Supply 36 Engines for New Arctic Gas Carriers
Finnish technology group Wärtsilä announced Thursday it has secured a deal to supply dual-fuel engines for six new 172,500-cubic-meter capacity liquefied natural gas (LNG) carriers being built by South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) to serve the Arctic LNG 2 project in Russia’s Arctic waters.The icebreaking gas carriers were ordered by Russia's Sovcomflot and Japan's Mitsui O.S.K.
Lenders Take Control of Polarcus' Ships After Default on Debt
Lenders took control of Polarcus' ships on Tuesday after the seismic surveyor defaulted on its bank loans and bonds, hit by a drop in spending by energy companies struggling with the COVID-19 pandemic and volatile oil prices.The company's Oslo-listed shares plunged as much as 47% after they resumed trading following an earlier suspension.Polarcus said lenders had taken over shares in subsidiaries that own seismic vessels and replaced directors in each subsidiary…
Seismic Surveyor Polarcus Sees Shares Nosedive as it Defaults on Debt Payment
Oslo-listed seismic surveyor Polarcus has defaulted on its bank loans and bonds, it said on Tuesday, sending the company's shares plunging more than 30%.Polarcus and other seismic surveyors have been hit by weak demand as oil companies slash spending on geological data amid the coronavirus pandemic and last year's crash in the price of crude."The company intends to pursue all available options with…
Sovcomflot, Total Ink Timecharter Deal on LNG Transport
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…
New LNG Carrier Delivered to Sovcomflot
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…
Zvezda Cuts Steel for First Russian-built Icebreaking LNG Carrier
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.
DSME to Build Six Second-generation Arc7 LNG Carriers
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…
Sovcomflot Shares Drop Below IPO Price Tag in Moscow Debut
Sovcomflot's shares fell below their offer price in their market debut in Moscow on Wednesday after the initial public offering (IPO) of Russia's biggest shipping company was priced at the lower end of its range.Sovcomflot's IPO, the first share offering by a Russian state company since 2013, will allow the government to reduce its stake to 82.8% following the sale of new shares worth about $550 million.The deal was priced at 105 roubles ($1.34) per share…
Sovcomflot IPO Expected to Price at Low End of Range
Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float by a Russian company in a couple of years comes as wider investor sentiment towards Moscow has turned negative after the poisoning of Kremlin critic Alexei Navalny…
Sovcomflot Returns Seismic Vessel to Polarcus
Russian firm Sovcomflot has returned the offshore seismic vessel Ivan Gubkin to its owner Polarcus.The 14-streamer 3D seismic vessel - originally named Polarcus Amani - had been on a charter with Sovcomflot since 2017 and should've stayed with Sovcomflot for five and a half years.However, the two companies earlier this month agreed for Sovcomflot to extend the contract for Polarcus' other seismic vessel…
Sovcomflot to Sell up to 17% Stake in Moscow IPO
Russia's top shipping company Sovcomflot plans to sell a 15.5%-17% stake in new shares and raise around 42.25 billion roubles ($534 million) in an initial public offering (IPO) on the Moscow Exchange, the company and analysts said on Monday.Sovcomflot's IPO comes at a difficult time for the Russian currency as rising coronavirus cases worldwide threaten an oil price recovery and reduce risk appetite among investors.The rouble was trading close to a 6-month low against the U.S.
Sovcomflot Targets at Least $500 Million in Moscow IPO
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…
Sovcomflot Takes Delivery of New LNG Carrier
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…