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$252m Finance for LNG-Powered Tankers
Watson Farley & Williams (“WFW”) has advised ING Bank (“ING”), as agent, security trustee and the syndicate of lenders on the US$252m financing of the world’s first…
SCF Secures Funds for Six Aframax Tankers
PAO Sovcomflot (SCF Group) informed that it has signed a new $252 million 7-year credit facility with a consortium of six leading international banks, which includes: ABN AMRO Bank…
Sovcomflot Better, Despite Challenging Year
PAO Sovcomflot (SCF Group), one of the world leaders in energy shipping and marine services to offshore oil and gas upstream projects, said that its gross revenue…
Hyundai Samho Heavy Industries Delivers Green VLCC
Hyundai Samho Heavy Industries (HSHI) has completed building a scrubber-equipped Very Large Crude oil Carrier (VLCC), the first of two ships ordered by Greek shipowner Almi Tankers in August 2016…
SCF, Shell Push LNG Fuel for Aframax Tankers
SCF Group signed time-charter agreements with Shell for two dual-fueled Aframax tankers. At a ceremony held during International Petroleum Week in London, the time…
Sberbank, Sovcomflot Sign $106m Finance Deal
The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years.
Sovcomflot’s New Icebreaker Named
A ceremony raising the flag of the Russian Federation and naming a new multifunctional icebreaking platform supply vessel, Yevgeny Primakov, took place on February 3, 2018 in Saint Petersburg. The vessel was built by Arctech Helsinki Shipyard, a subsidiary of the United Shipbuilding Corporation; technical supervision was carried out by the Russian Maritime Register of Shipping (RS), which assigned the vessel a high ice class – Icebreaker6.
The Top 10 Ships of 2017
Maritime Reporter & Engineering News, published since 1939, annually prints details on the world’s “Great Ships of the Year.” Here we rank from those selected in the December 2017 edition the top 10 ships of the year, according to the editors. Builder: Shanghai Zhenhua Heavy Industries Co. Builder: Hanjin Heavy Industries & Construction Co. USS Gerald R. Ford: first-of-class aircraft carrier for the U.S. Owner: U.S. Christoph de Margerie: the world’s first icebreaking LNG carrier.
Christophe de Margerie Moves 1st Yamal LNG Cargo
On 8 December 2017, the icebreaking LNG carrier Christophe de Margerie completed her first loading at the Port of Sabetta, on the Yamal Peninsular, with her first…
Christophe de Margerie Named Engineering Project of the Year
Christophe de Margerie, the icebreaking LNG carrier built to order for SCF Group (Sovcomflot) to serve the Yamal LNG project, has won the award for Engineering Project…
Sovcomflot Reports Loss for 9M 2017
PAO Sovcomflot (SCF Group) reported a $6.8 million loss for the first nine months of 2017, citing the adverse impacts of low spot market freight rates in the conventional tanker sectors. “This year has proven to be a very challenging period for the tanker industry and the situation now faced by many conventional tanker ship owners is especially severe,” said Sergey Frank, President and CEO of PAO Sovcomflot.
Orest Sychenikov, First Head of Novorossiysk Shipping Company, Passed Away
It is with great sadness that the Sovcomflot management and team must announce a monumental loss to the Russian shipping community. On 9 October 2017, Orest Sychenikov…
SCF's New Icebreaker Named Fedor Ushakov
Russia’s PAO Sovcomflot (SCF Group) currently operates 10 vessels that serve the Sakhalin-2 project, including three oil tankers, two liquefied natural gas (LNG) carriers and five icebreaking supply and standby vessels. Its latest addition to this specialized fleet, a newly built multifunctional icebreaking standby vessel (IBSBV), was formally named Fedor Ushakov at a ceremony on October 11. The vessel…
Zvezda, Hyundai to Build Russian Aframax Tankers
A set of agreements between PAO Sovcomflot (SCF Group), Rosneft, the State Transport Leasing Company (STLC) and Zvezda Shipbuilding Complex will see the construction of five Aframax tankers for the export of crude oil and oil products from 2021. The 114,000 dwt vessels will be built by Zvezda jointly with technology partner Hyundai Heavy Industries (Republic of Korea). The tankers are purpose-designed to use liquefied natural gas (LNG) as their primary fuel and will have an ice class of 1A/1B…
Russian Award for Sovcomflot
PAO Sovcomflot (SCF Group) was awarded first prize at the 2017 International Competition of Scientific, Technical and Innovative Developments aimed at the Exploration…
ABB’s Azipod Writes History in the Arctic
Sovcomflot’s liquefied natural gas (LNG) carrier Christophe de Margerie made the world’s first-ever crossing of the Northern Sea in late August without the aid of an ice-breaker. The record-setting vessel is powered by ABB’s advanced Azipod electric propulsion technology. The 172,600 cubic meters Arctic LNG tanker, which features a lightweight steel reinforced hull, is the largest commercial ship to receive Arc7 certification, and is capable of travelling through ice up to 2.1m thick.
SCF's Balancing Act in Tanker Market
Despite the turbulent conditions seen in conventional markets, SCF Group has continued to demonstrate resilience whilst remaining able to position itself to take…
LNG Carrier Sets Northern Sea Route Record
On August 17, 2017, the Sovcomflot-owned icebreaking liquefied natural gas (LNG) carrier Christophe de Margerie completed her first commercial voyage, transporting LNG through the Northern Sea Route (NSR) from Norway to South Korea. During this voyage, the vessel set a new time record for an NSR transit of 6 days 12 hours and 15 minutes. Moreover, Christophe de Margerie has also become the world’s first merchant vessel to travel the full length of the NSR without any icebreaker escort.
Russia Sends LNG Through Northern Sea Route
Russia was now pitching itself as an important transporter of European gas to Asia, reports Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels.
Arctic Thaw helps Russian Shipping
Arctic thaw aids shipping most along Russian coast; Russia to start LNG exports from Yamal in late 2017. Russian shipping in the Arctic is benefiting from winds…
