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Maritime AI Firm Launches Russia Sanctions Compliance Tool
A predictive intelligence company applying AI global maritime trade has launched a solution to minimize risk exposure in maritime trade as it relates to ongoing sanctions against Russia.In response to the recent Russian invasion into Ukraine, heavy economic sanctions were imposed days prior to the invasion and have since escalated rapidly. Amongst the most prominent organizations affected are Sverbank and VTB…
Russia Dropped from Ship Certification Body as Sanctions Bite
The world's top association of ship certifiers has withdrawn membership from the Russia Maritime Register of Shipping (RS) due to the impact of sanctions on Moscow after its invasion of Ukraine, in another blow to the country's vital shipping sector.Classification societies provide services such as checking that ships are seaworthy, and this certification cover is essential for securing insurance and entry into ports.In recent days…
U.S.-bound Tanker Loaded with Russian Cargo Docks Off Gibraltar Awaiting Instructions
Marshall Islands-flagged tanker Elli which made a Russian port call and is bound for the United States has anchored off Gibraltar awaiting further instructions from its charterer…
All at Sea: Russian-linked Oil Tanker Seeks a Port
A Russian-operated oil tanker that Britain turned away over a week ago has yet to find a port to discharge its cargo, and many other vessels are likely to be in…
Sovcomflot's Tankers Find Refuge in the Bahamas Amid Growing Sanctions
At least three tankers controlled by Russian maritime powerhouse Sovcomflot that have been unable to deliver their cargoes due to Western sanctions have re-routed to the Bahamas…
Sovcomflot Tanker Carrying US LNG Arrives in France
A Russian-owned tanker carrying U.S. liquefied natural gas (LNG) arrived on Monday at anchorage outside the French port of Nantes Saint-Nazaire, according to vessel…
Russian Owned Oil Tanker Diverting from Canada to Caribbean
An oil tanker owned and managed by Russia's largest maritime and freight shipping company, Sovcomflot, which was blacklisted by the United States last week as part of sanctions against Russia…
EU Nations Considering Banning Russian Ships from Ports
European Union countries are considering a ban on Russian ships entering the bloc's ports, aiming to tighten sea restrictions after a halt on air traffic, European officials say, a step that would further hamper Russia's commercial shipments.Britain already decided on Monday to deny entry to British ports to all ships that are Russian owned, operated, controlled, chartered, registered or flagged. Canada followed on Tuesday…
UK Orders Its Ports to Block All Russian-linked Ships
Britain on Monday ordered its ports to block any vessels that are Russian-flagged or believed to be registered, owned or controlled by any person connected with Russia as it ratcheted up the pressure on Moscow.Transport Secretary Grant Shapps said in a letter to all UK ports that further detailed sanctions against Russian shipping were being drawn up following Russia's invasion of Ukraine."The maritime…
Light Structures tapped for ice load monitoring on 10 new Arctic-bound LNG Carriers
Samsung Heavy Industries SHI selected Light Structures AS, a supplier of fiber optic condition monitoring systems for maritime applications, to deliver comprehensive ice load monitoring systems for 10 Arctic Liquid Natural Gas Carriers (ALNGC) operated by Russia´s largest shipping company, Sovcomflot.Click here for feature on Light Structures' as published in the November 2021 edition of Maritime Reporter…
SCF gets $110m Credit Facility to Finance Ice-Class Shuttle Tankers
PAO Sovcomflot (SCF Group) signed a $110 million credit facility, for 10 years, with ING BANK N.V., SMBC BANK EU AG and UNICREDIT BANK AG, to finance two new ice-class shuttle tankers.The ships…
Sovcomflot, Gazprom Neft Partner Up to Decarbonize Shipping
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…
New Ship Repair Cluster Coming to Russia’s Far East
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…
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…
