SCF Secures Financing for LNG-Powered MR Tankers

SCF Secures Financing for LNG-Powered MR Tankers

  • During the St. Petersburg International Economic Forum, Sovcomflot and VEB.RF Group announced the signing of agreements whereby VEB Leasing will finance the construction of three new LNG-fuelled MR tankers.

    Sovcomflot placed the order for these three tankers with the Zvezda Shipyard (Primorsky Region) on 28 December 2018. The delivery is scheduled for 2022-2023.

    Each tanker will have a deadweight of 51,000 tons, and they are intended to transport petroleum products and gas condensate, operating under 20-year time charter agreements with Novatek. The vessels will have an Ice Class 1B classification, enabling them to provide safe and reliable year-round transportation for hydrocarbons in challenging ice conditions, in particular in the Baltic.

    The vessels’ technical specifications have been designed to meet international regulations on emissions, which come into effect in 2020. In comparison with conventional bunkers, the use of LNG fuel can significantly reduce the amount of vessel emissions, for example: sulphur oxides (SOx) reduced by 100%; nitrogen oxides (NOx) reduced by 76%; carbon dioxide (CO2) reduced by 27%; low-dispersed particles eliminated completely.

    Sergey Frank, President and CEO of Sovcomflot, said: “The company already successfully operates six new-generation Aframax tankers, which are powered by LNG fuel. Five more LNG-powered vessels have been ordered by Sovcomflot from the Zvezda shipyard and will be built over the next few years. We welcome the plans of Russian shipbuilders to create modern large-tonnage LNG-fuelled vessels which, of course, represent the future of world shipping.”


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