Sovcomflot fleet expansion

Sovcomflot, Russia’s largest shipping company, is continuing its fleet re-equipment and modernization programme on the back of the high demand in the energy sector and the capabilities of the Russian shipbuilding industry.

Earlier this month, the company signed a memorandum of intentions with the Severnaya Shipyard for the construction of multipurpose dry-cargo vessels and LPG tankers. The new product tanker ‘Torgovy Bridge’ will be launched by the Admiralty Shipyards later this week and will be the fourth of six tankers ordered from the St. Petersburg shipbuilder. In addition, Sovcomflot and Admiralty Shipyards will also be finalizing contract details to build a further three units in this tankers series.

In 2006, a Baltimax type ice-class tanker will enter into service and Sovcomflot is considering the possibility of building B-Max type tankers with a transportation capacity of up to 200,000 tons in future. The shipping company is also hoping to enter the LNG market on the back of current gas export projects such as Sakhalin 2 and the Tangguh gas transportation tender in Indonesia. Sovcomflot has put forward two 145,000 cubic metre LNG carriers for the tender with transportation set to commence in 2008. The formal results of the tender will be announced by early May.