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Sovcomflot, Total Ink Timecharter Deal on LNG Transport
![Igor Tonkovidov, President and CEO of PAO Sovcomflot at the signing. Photo courtesy Sovcomflot.](https://images.marinelink.com/images/maritime/w200h200c/igor-tonkovidov-president-and-ceo-119662.jpg)
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
![On January 15, 2021, PAO Sovcomflot (SCF Group) took delivery of SCF Timmerman, a new 174,000-cbm LNG carrier built by Hyundai Samho Heavy Industries. Photo credit Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/on-january-15-2021-pao-119513.jpg)
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
![(Photo: Zvezda Shipbuilding)](https://images.marinelink.com/images/maritime/w200h200c/photo-zvezda-shipbuilding-118283.jpg)
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
![File photo: The world's first icebreaking LNG carrier Christophe de Margerie entered service in 2017 (Photo: SCF Group)](https://images.marinelink.com/images/maritime/w200h200c/file-photo-the-worlds-first-117632.jpg)
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
![(Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-117028.jpg)
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
![(Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-117001.jpg)
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
![Ivan Gubkin - Credit: Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/ivan-gubkin-credit-sovcomflot-116802.jpg)
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
![(Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-116788.jpg)
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
![(Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-116426.jpg)
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
![SCF Barents - Credit: Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/scf-barents-credit-sovcomflot-116409.jpg)
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…
Arctic LNG 2 Partners Charter 14 LNG Carriers
![For Illustration; SCF's Cristophe de Margerie LNG Carrier](https://images.marinelink.com/images/maritime/w200h200c/for-illustration-scfs-cristophe-de-116177.jpg)
Russian gas giant Novatek has informed that its Arctic LNG 2 joint venture has entered into long-term charter agreements for 14 Arc7 ice-class LNG tankers.The Arctic LNG 2 partners have signed the charter agreements will SMART LNG, a joint venture established in September 2019 between NOVATEK and PAO Sovcomflot. The vessels will be built in Russia's Zvezda Shipbuilding Complex and will serve the giant Arctic LNG 2 project on the Gydan peninsula, Russia.
Sovcomflot's 1H Profit Jumps 149%
![Credit: Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/credit-sovcomflot-115956.jpg)
Russian energy shipping company Sovcomflot reported a net profit for the first half of 2020 of $226,4 million, a 148.8 percent increase to last year's first-half income of $91 million. The first half 2020 revenue was $951,3 million, up from $794,1 million in the first half of 2019.Igor Tonkovidov, President and CEO of SCF Group said Friday that the company had achieved its targets with an optimal balance of long- and short-term charter contracts…
Zvezda Cuts First Steel for Sovcomflot Aframax
![(Photo: Rosneft)](https://images.marinelink.com/images/maritime/w200h200c/photo-rosneft-113653.jpg)
Russia's Zvezda shipbuilding complex has starting building a new Aframax tanker for compatriot shipowner Sovcomflot.The vessel is the sixth tanker build underway at the newly opened shipyard and is one of 12 Aframaxes in the builder's order book. The ice class ICE-1A ships are 250 meters long, 44 meters wide and are equipped with the Class A automation system, and can run on liquefied natural gas (LNG) fuel.Currently four Aframax tankers are under construction at the shipyard.
ABB Provides Remote Support During Record NSR Voyage
![Icebreaking LNG carrier Christophe de Margerie (Photo: ABB)](https://images.marinelink.com/images/maritime/w200h200c/icebreaking-lng-carrier-christophe-de-113552.jpg)
ABB has signed a contract to support icebreaking LNG carrier Christophe de Margerie with remote diagnostics services for increased safety and performance as the vessel completed the transit of the Northern Sea Route, bound for China with Yamal LNG cargo two months earlier than usualThe pioneering icebreaking liquified natural gas (LNG) carrier Christophe de Margerie will now have round-the-clock remote…
Unique Arctic Journey for Russian LNG Carrier
![Commissioned in 2017, Christophe de Margerie is the world’s first icebreaking LNG carrier and the lead ship in the series of ice class Arc7 vessels with a cargo capacity of 172,600 cubic meters each, purpose designed for serving the Yamal LNG project year-round in the Russian Arctic. (Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/commissioned-in-2017-christophe-de-113396.jpg)
Sovcomflot's Arc7 ice-class Christophe de Margerie liquefied natural gas (LNG) carrier has made history by successfully transiting the Eastbound ice-covered part of the Northern Sea Route (NSR) in May, carrying LNG from Novatek's Yamal LNG project to China.The Russian vessel owner said the event marked the first time in the history of the shipping industry that a large-capacity vessel of this class…
Sovcomflot Updates Fleet Status
PAO Sovcomflot (SCF Group), a Russian maritime shipping company specializing in petroleum and LNG shipping, announced that it has taken delivery of four newbuildings…
ABB Supporting Sustainable Arctic Shipping
![(Photo: Sovcomflot)](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-110984.jpg)
High in the Arctic Circle lies the Northern Sea Route, one of the planet’s vital shipping arteries. It cuts a journey by almost a third compared to the southern route but it is passing through waters which are mostly frozen.The northern route connects east and west, allowing cargo to be transferred from northern Europe to northeast Asia, via the Bering Strait. It’s a 30% faster passage than the southern Europe-Asia alternative via the Suez Canal and is attractive to shipping companies…
Sovcomflot Names LNGC SCF La Perouse
Russian state-controlled shipowner Sovcomflot (SCF) has named the 174,000m³ SCF La Perouse - the first of three LNG tankers on order with South Korean shipbuilder…
Four More Icebreaking LNG Carriers for Smart LNG
Smart LNG LLC, a joint venture of Sovcomflot and Novatek, signed an agreement with VEB.RF Group for lease financing of four Arc7 icebreaking LNG carriers for the Arctic LNG 2 project.
DecarbonICE Project for Green Shipping
A group of world leading shipping companies including NYK, Sovcomflot, Knutsen OAS and Ardmore, ship builders, including DSME and the mining company Vale, have therefore…