Group of companies Modern Commercial Fleet (SCF), a JV of the United Shipbuilding Corporation JSC (USC) and Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME) - Zvezda-DSME have completed negotiations and signed agreements on construction of a series of tankers to transport crude oil and petroleum products. According to the press service of Sovkomflot, the agreements provide for construction in the period from 2012 to 2014 of six vessels: two tankers of LR2 class (117,800dwt, ice class 1C to the international classification) and four tankers to transport crude oil of aframax class (120,600dwt). The signed documents include the option for the construction of six aframax and LR2 ships. The first tanker is scheduled to start operating in mid-2012.
As USC’s President Roman Trotsenko said, "the implementation of the project according to the signed agreements directly interconnected with the construction of a new modern shipyard in the Far East - the first large-tonnage shipbuilding shipyard in Russia's history."
"During the construction of the first two tankers at the DSME’s dockyards in Korea there will be intensive training of the personnel of the joint venture Zvezda-DSME and Russian specialists will get access to modern shipbuilding technologies – overall, there will be more than 500 engineers, designers and workers of the main skills involved in this process. Part of the work on the construction of hulls of the third and fourth tanker will be manufactured at the new shipyard Zvezda-DSME. The fifth and sixth tankers will be built on a turnkey basis in Russia. The program of staff training and adoption of advanced shipbuilding technologies will help begin construction of ships and marine equipment at the new shipyard Zvezda-DSME on time and on a global level of quality for the needs of prospective projects on the shelf of the Russian Federation", he added.
"According to Sovcomflot Group’s existing procedure of negotiating a contract the company had carried out painstaking work to select the project and a shipyard contractor. We found the proposal of joint venture Zvezda-DSME the most attractive. All the work on harmonization of technical and commercial parameters of the agreements, as well as the choice of the shipyard, was carried out with participation of specialists of our subsidiary Novoship, who will provide support for the project and subsequent operation of ships ", Evgeny Ambrosov, SCF Group’s Senior Executive Vice President & COO commented on the agreement.
In his turn, Callum Ludgate, the Managing Director of SCF UK Ltd. and SCF Board member highlighted that "the planned upgrade of the shipping company’s fleet in the segment of aframax tankers, as well as expansion of our opportunities in the segment of LR2 vessels are stipulated by the Group’s investment program for 2010-2015."
As USC’s President Roman Trotsenko said, "the implementation of the project according to the signed agreements directly interconnected with the construction of a new modern shipyard in the Far East - the first large-tonnage shipbuilding shipyard in Russia's history."
"During the construction of the first two tankers at the DSME’s dockyards in Korea there will be intensive training of the personnel of the joint venture Zvezda-DSME and Russian specialists will get access to modern shipbuilding technologies – overall, there will be more than 500 engineers, designers and workers of the main skills involved in this process. Part of the work on the construction of hulls of the third and fourth tanker will be manufactured at the new shipyard Zvezda-DSME. The fifth and sixth tankers will be built on a turnkey basis in Russia. The program of staff training and adoption of advanced shipbuilding technologies will help begin construction of ships and marine equipment at the new shipyard Zvezda-DSME on time and on a global level of quality for the needs of prospective projects on the shelf of the Russian Federation", he added.
"According to Sovcomflot Group’s existing procedure of negotiating a contract the company had carried out painstaking work to select the project and a shipyard contractor. We found the proposal of joint venture Zvezda-DSME the most attractive. All the work on harmonization of technical and commercial parameters of the agreements, as well as the choice of the shipyard, was carried out with participation of specialists of our subsidiary Novoship, who will provide support for the project and subsequent operation of ships ", Evgeny Ambrosov, SCF Group’s Senior Executive Vice President & COO commented on the agreement.
In his turn, Callum Ludgate, the Managing Director of SCF UK Ltd. and SCF Board member highlighted that "the planned upgrade of the shipping company’s fleet in the segment of aframax tankers, as well as expansion of our opportunities in the segment of LR2 vessels are stipulated by the Group’s investment program for 2010-2015."
Construction of aframax tankers for transportation crude oil will be based on the technical solutions used in the project LR2, with modification of the cargo complex.
OJSC Modern Commercial Fleet (SCF) is the largest Russian shipping company, a global leading energy carrier. SCF is ranked among five top tanker companies in the world. The company’s fleet of 150 vessels has a total deadweight of 10.93 million tons, ship-building program - 9 vessels with total deadweight of about 0.69 million tons. The average age of the tanker fleet - 6.4 years. Net income of Sovcomflot under IFRS in the first half of 2010 shrank by 5% from H1,2009 to $ 111.2 million. Revenue of the Company for the period totaled $ 678.6 million (+10.9%).
United Shipbuilding Corporation, founded in 2007, incorporates three regional shipbuilding centers: JSC Western Shipbuilding Center (St. Petersburg), JSC Northern Center of Shipbuilding and Ship Repair (Severodvinsk), JSC Far Eastern Center of Shipbuilding and Ship Repair (Vladivostok), as well as leading marine design offices.
Daewoo Shipbuilding & Marine Engineering Co. is one of the largest shipyards in South Korea. Net income of DSME in the Q3, 2010 surged 56% y-o-y, to $ 261.5 million. In the first 7 months of this year, Daewoo Shipbuilding bagged shipbuilding orders worth $ 7.3 billion. In August 2010, the company signed a $1.8bn contract for construction of a floating platform for the French energy giant Total.
Construction of the most modern shipyard in Big Stone is being implemented on the base of the Far East Plant Zvezda (part of the USC).
United Shipbuilding Corporation, founded in 2007, incorporates three regional shipbuilding centers: JSC Western Shipbuilding Center (St. Petersburg), JSC Northern Center of Shipbuilding and Ship Repair (Severodvinsk), JSC Far Eastern Center of Shipbuilding and Ship Repair (Vladivostok), as well as leading marine design offices.
Daewoo Shipbuilding & Marine Engineering Co. is one of the largest shipyards in South Korea. Net income of DSME in the Q3, 2010 surged 56% y-o-y, to $ 261.5 million. In the first 7 months of this year, Daewoo Shipbuilding bagged shipbuilding orders worth $ 7.3 billion. In August 2010, the company signed a $1.8bn contract for construction of a floating platform for the French energy giant Total.
Construction of the most modern shipyard in Big Stone is being implemented on the base of the Far East Plant Zvezda (part of the USC).