Russia: USC to Use USD 37.4 Bln on Vessel Constructions till 2020

United Shipbuilding Corporation (USC) will spend RUR 1.1 trillion (approx $ 37.4 billion) on construction of civil vessels till 2020, writes Vedomosti on Feb 27 referring to plan of orders for civil ships and marine equipment drawn out by Ministry of Trade and Industry along with USC.

According to their estimates, 1 352 ships will be constructed in Russia within the next 8 years. By the way, private shipyards will execute orders only to the sum of RUR 78.6 bln (approx $ 2.6 bln), while the major part will go to USC. For instance, the corporation has been already appointed the only executer of the state order for 4 icebreakers (to the amount exceeding RUR 25 bln). USC is also expected to receive an order for series of nuclear-powered icebreakers.

Main customers ordering new ships will be oil-and-gas companies, primarily Gazprom. In total, they are going to spend RUR 544.2 bln (approx $ 18.5 bln) including Gazprom’s RUR 357.7 bln (approx $ 12.1 bln).

Russian federal budget allocates RUR 230.9 bln  (approx $ 7.8 bln) for new ships. Expectedly, by 2020 portion of the USC’s civil orders would grow from 17% (in 2011) up to 30%. Speaking of military shipbuilding, it is planned to build 100 vessels for Russian Navy through the next 8 years including submarines and auxiliary ships.

(1 Russian ruble = 0.034075 U.S. dollars)

[mappress]

Shipbuilding Tribune Staff, March 1, 2012