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, to create modern large-capacity vessels using natural gas-based bunkers (LNG) as their primary fuel," said Sergey Frank, President & CEO, PAO Sovcomflot. “I am confident that the experience gained in the technical and commercial operation of SCF’s next generation tankers will be in demand both with our customers and Russian shipbuilders, helping to consolidate the leadership of Russian companies in the implementation of 'green technologies' in maritime transport."

The ceremony for the signing was held at Zvezda Shipbuilding Complex and was attended by Vladimir Putin.