The Board of Directors of crude oil, petroleum products, and liquefied gas maritime transportation firm Sovcomflot (SCF Group) on Tuesday (23 July) approved transactions with Zvezda Shipbuilding Complex (Primorsky Region) and a subsidiary of JSC VEB Leasing to place orders for the construction of three new-generation MR product carriers using liquefied natural gas (LNG) as their main fuel.
The vessels will be chartered to a subsidiary of PJSC NOVATEK under 20 year time-charter agreements.
“We are grateful to PAO Sovcomflot’s shareholder and our partners PJSC NOVATEK and VEB.RF for supporting SCF’s environmental initiative that provides for the gradual transfer of our large-capacity tanker fleet to using more environmentally safe LNG fuel,” said Sergey Frank, President and CEO of Sovcomflot.
“The introduction of ‘green’ technologies for energy shipping is one of the priorities provided for by the development strategy of our company for the period up to 2025.
“The company already successfully operates a series of the world’s first Aframax-class tankers to use LNG fuel. Five more of SCF’s ‘green’ series vessels will be built at Zvezda Shipbuilding Complex and put into operation from 2022 to 2023.”
“In 2022, our company will accept the world’s first product carriers operating on with LNG fuel,” said Igor Tonkovidov, Executive Vice President and CTO/COO of Sovcomflot.
“We welcome the localisation of new civil shipbuilding technologies that envisage the manufacturing of advanced marine equipment in Russia, the operation of which will help reduce the environmental footprint of humanity.
“I am confident that the serial construction of new-generation LNG-fuelled large-capacity vessels at the facilities of Zvezda Shipbuilding Complex will contribute to strengthening the leadership and increasing the competitiveness of Russian shipping companies in the world market.”
Related: Sovcomflot orders LNG fuelled newbuilding for Novatek charter
Related: VEB.RF Group provides financing for Sovcomflot LNG-fuelled MR tankers
Related: SCF Group marks first year of operating LNG-fuelled oil tankers
Other related: Russia: Novatek to start LNG bunkering ops at Vysotsk district in March
Other related: Sovcomflot and Gazprom Neft agree to cooperate on LNG bunkering
Other related: Rotterdam marks first STS LNG bunkering operation
Other related: SCF’s LNG-fuelled tanker used ‘non-standard engineering solutions’
Other related: Shell charters LNG-fuelled Aframax duo from SCF Group
Other related: Sovcomflot secures funding for LNG-fuelled oil tankers
Other related: Zvezda Shipyard to build LNG-fuelled Aframax vessels
Other related: Sovcomflot orders LNG-fuelled tankers from Zvezda Shipbuilding
Photo credit: Sovcomflot
Published: 29 July, 2019
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