Sovcomflot approves LNG-fueled tanker orders at Zvezda shipyard

Russian shipping company Sovcomflot said its board of directors approved the order for three LNG-fueled MR product carriers at the Zvezda Shipbuilding Complex. 

According to Sovcomflot’s statement, the vessels will be chartered by a unit of Novatek under 20-year charter deals.

Speaking of the orders, Sovcomflot’s CEO, Sergey Frank noted that the company is focusing on introducing “green technologies” for energy shipping as part of its strategy 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,” Frank said.

Currently, SCF Group has six LNG-fuelled crude oil tankers of Gagarin Prospect type in operation.

During the second half of 2018, Sovcomflot placed orders at Zvezda for five LNG-fuelled tankers, which will be time-chartered to Rosneft and Novatek once delivered.

In addition, Sovcomflot provides technical supervision for the construction of five LNG-fuelled tankers for Rosneft at Zvezda, and it is envisaged that Sovcomflot will provide technical management of these tankers following their delivery.