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Sovcomflot Holds PDVSA Oil Hostage over Debts
Venezuela's state-run oil company, PDVSA, sent a tanker in October to the Caribbean with the expectation that its cargo of crude would fetch about $20 million -…
New LNG Tanker Forges Path for Arctic Shipping
![Photo: Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/photo-sovcomflot-72265.jpg)
An ice-breaking tanker docked for the first time at Russia's Arctic port of Sabetta to test a new route that could open the ice-bound Arctic Ocean to ships carrying oil and liquefied gas. The route is eagerly anticipated by energy firms that want to develop resources in the Arctic but face obstacles in getting oil and gas from remote and freezing fields to world markets. Environmental activists fear…
First Icebreaking LNG Carrier Ready for Service
![Photo: DSME](https://images.marinelink.com/images/maritime/w200h200c/photo-dsme-72135.jpg)
The world’s first icebreaking liquefied natural gas (LNG) carrier, Christophe de Margerie, has berthed at the gas terminal at Sabetta Port in Russia, becoming the first vessel to do so. Built by Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) in South Korea, the tanker was designed to order for SCF Group, specifically to serve Russia’s Yamal LNG project, and transport LNG year round in the difficult ice conditions of the Ob Bay and Kara Sea.
60 Liebherr Ship Cranes for Yamalmax Newbuilds at DSME
![Photo: Liebherr](https://images.marinelink.com/images/maritime/w200h200c/photo-liebherr-72122.jpg)
Liebherr’s ship crane department has secured orders to equip 15 new vessels of the South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co., LTD (DSME) with one ship set of four units type CBW 2100 each. That means a summarized order volume of 60 Liebherr ship cranes. The 15 ordered and identical vessels are liquefied natural gas (LNG) carriers with a capacity of 172,600 cubic meters and a total length of 299 meters.
Market Volatility Affects Sovcomflot
Sovcomflot is one of the world’s leaders in energy shipping as well as in servicing offshore upstream oil and gas projects. It has reported lower time charter equivalent revenue (TCE) of USD 1…
First LNG-fueled Aframax Tankers Ordered
![Image: Hyundai Heavy Industries Group](https://images.marinelink.com/images/maritime/w200h200c/image-hyundai-heavy-industries-group-71806.jpg)
Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114,000 DWT Ice-Class IA aframax tankers from Sovcomflot, the Russia’s state-owned shipping company. The vessels are said to be the world’s first LNG-fueled aframax tankers, and will measure 250 meters in length, 44 meters in width and 21 meters in height. They are scheduled to be delivered from the third quarter of 2018 and to be chartered to Shell.
Russia Plans Sovcomflot Privatization in First Half
![File photo: Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/file-photo-sovcomflot-71650.jpg.tiff)
Russia plans to reduce its holdings in the state shipping company Sovcomflot in the first half of this year, Economy Minister Maxim Oreshkin told reporters on Tuesday. He said the sale would be split between new and existing shares so the company can raise funds for its own development. Oreshkin was speaking in Paris after meeting the French finance minister Michel Sapin and representatives of Franco-Russian business lobby.
First Meet of Arctic Economic Council held
A meeting of the Arctic Economic Council (AEC) was held in Saint Petersburg on the premises of SCF Arctic, a subsidiary of Sovcomflot Group (PAO Sovcomflot), on 7-8 February 2017.
SCF's New Icebreaker Named Gennadiy Nevelskoy
![Photo: Eric Haun](https://images.marinelink.com/images/maritime/w200h200c/photo-eric-haun-69956.jpg)
Built by Arctech Helsinki Shipyard, the Russian flagged Gennadiy Nevelskoy (deadweight 3,000 metric tons) will home port in Saint Petersburg and was commissioned by SCF under a long-term agreement with Sakhalin Energy. She is the first of four vessels for operations at the Sakhalin-2 project; the other three are ice-breaking standby vessels (IBSBVs) that have a smaller deadweight (2,000 metric tons), but offer enhanced functionality and a higher people-on-board capacity.
Sovcomflot tankers Move one mi tonnes oil from Novy Port O&G condensate field
Sovcomflot’s three unique Arctic shuttle tankers, of the Shturman Albanov series, have now transported one million tonnes of crude oil produced at the Novy Port oil and gas condensate field…
Christophe de Margerie Arrives in Zeebrugge
Christophe de Margerie, the world’s 1st top category ice-class LNG carrier, docked at Zeebrugge LNG terminal January 20, 2017, for a series of scheduled operations.
Novoship Celebrates 50th Anniversary
On January 19-20, 2017 Novorossiysk Shipping Company (Novoship), a subsidiary of SCF Group, hosted special events dedicated to the company’s 50th anniversary. The…
Sovcomflot Inks $180 Mn Credit for Two Shuttle Tanker
On 23 November 2016, Sovcomflot and Sberbank signed a memorandum of understanding (MOU) paving the way for a new USD 180 million long-term credit agreement with a term of up to 15 years.
Russian Shipping Firm Sovcomflot 25 pct Stake Sale May Involve New Shares
The privatisation of a 25 percent stake in Russian state shipping firm Sovcomflot may be equally split between existing and new shares, two sources close to the deal told Reuters on Friday.
Sovcomflot $ 1.26 bln Debt Financing Complete
SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD…
Hyundai Heavy Wins Russian Bid for 12-Ship Contract
South Korea’s troubled shipbuilder Hyundai Heavy Industries Co. announced that it has been selected as the preferred bidder for a 12-oil tanker contract worth $660 million of Russia’s Sovcomflot…
Sovcomflot, ABB to set-up Center at Admiral Nevelskoy MSU
PAO Sovcomflot, Asea Brown Boveri Ltd. (ABB) Company and the Admiral Nevelskoy Maritime State University (MSU) have signed an agreement for research, technological and educational partnership.
Sovcomflot Profits slip
Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF…
Parker to Supply Three Arctic Vessels
![Photo courtesy of Parker Bestobell Marine](https://images.marinelink.com/images/maritime/w200h200c/photo-courtesy-of-parker-bestobell-62999.jpg)
Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, a leader in motion and control technologies, has received a major new order from DSME (Daewoo Shipbuilding & Marine Engineering) in South Korea to supply cryogenic valves for three new vessels. The company’s valves will be used in the cargo handling systems, including the main discharge line that controls the initial flow of LNG from the cargo tanks when pumping starts.
Long Beach Awards Sovcomflot for Green Shipping
![Photo courtesy of PAO Sovcomflot](https://images.marinelink.com/images/maritime/w200h200c/photo-courtesy-of-pao-sovcomflot-62196.jpg)
PAO Sovcomflot earned the Green Environmental Achievement Award from California's Port of Long Beach, recognizing the shipper for its ongoing commitment to environmental stewardship. The company was awarded for its fleet performance by the Port of Long Beach Green Flag Program in 2015. This voluntary program was set up to reduce the atmospheric emissions of vessels by encouraging ships to slow down when approaching the port.