Sovcomflot expands with four new LR1 product tankers
On 10 February 2012, Sovcomflot (SCF Group) agreed a further joint project with Glencore International AG to own, operate and manage four coated LR1 type product tankers (74,000 tonnes DWT). The vessels “SCF Plymouth”, “SCF Pacifica” and “SCF Pearl” built in 2011 at Hyundai Mipo Dockyard Co (South Korea) will immediately be managed by the joint venture, SCF Group news release said.
The fourth vessel, “SCF Prudencia” will be delivered from the same shipyard at the end of February 2012. The design of all vessels incorporates all the latest requirements in terms of environmental protection, energy efficiency, crew accommodation and safety.
The technical management of all the vessels will be performed by SCF Unicom Singapore – a part of SCF Group. The commercial management of the vessels will be performed by the joint chartering teams.
Evgeny Ambrosov, Senior Executive Vice-President of OAO Sovcomflot, noted: “This is the next stage of our joint ownership project with Glencore for product tankers, which started in 2010 when Sovcomflot and Glencore formed a joint venture and entered the LR1 product tanker segment with five newbuildings. The project is in line with SCF Group’s Strategy for 2011-2017, and strengthens the position of Sovcomflot in the developing markets of oil products transportation, primarily in South-East Asia and Russia.”
Richard Prince, Deputy Head of ST Shipping (a subsidiary of Glencore), noted “We are very pleased to have expanded our partnership with SCF. It brings together the strength and reputation of SCF’s shipping capabilities along with our experience of commercially operating tankers and our cargo base.”
SCF Group of companies (SCF) - one of the world's leading shipping companies, specializing in crude oil, petroleum products and liquefied gas transportation. The fleet includes 156 vessels with a total deadweight of 12 million tonnes. The company is registered in St. Petersburg with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, London, Limassol, Madrid and Singapore.
The Group offers a wide range of vessels concentrated in the market segments most demanded by major Russian oil and gas companies. With its own technical development and unique approach to advanced technologies, Sovcomflot has the ability to meet the most demanding customer requirements, providing effective transportation for oil and gas companies.
Glencore International AG is one of the world’s leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. Glencore is one of the world’s biggest independent suppliers of crude oil and oil products and through ST Shipping operates over 175 tankers through their offices in Singapore, Stamford and London.
The fourth vessel, “SCF Prudencia” will be delivered from the same shipyard at the end of February 2012. The design of all vessels incorporates all the latest requirements in terms of environmental protection, energy efficiency, crew accommodation and safety.
The technical management of all the vessels will be performed by SCF Unicom Singapore – a part of SCF Group. The commercial management of the vessels will be performed by the joint chartering teams.
Evgeny Ambrosov, Senior Executive Vice-President of OAO Sovcomflot, noted: “This is the next stage of our joint ownership project with Glencore for product tankers, which started in 2010 when Sovcomflot and Glencore formed a joint venture and entered the LR1 product tanker segment with five newbuildings. The project is in line with SCF Group’s Strategy for 2011-2017, and strengthens the position of Sovcomflot in the developing markets of oil products transportation, primarily in South-East Asia and Russia.”
Richard Prince, Deputy Head of ST Shipping (a subsidiary of Glencore), noted “We are very pleased to have expanded our partnership with SCF. It brings together the strength and reputation of SCF’s shipping capabilities along with our experience of commercially operating tankers and our cargo base.”
SCF Group of companies (SCF) - one of the world's leading shipping companies, specializing in crude oil, petroleum products and liquefied gas transportation. The fleet includes 156 vessels with a total deadweight of 12 million tonnes. The company is registered in St. Petersburg with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, London, Limassol, Madrid and Singapore.
The Group offers a wide range of vessels concentrated in the market segments most demanded by major Russian oil and gas companies. With its own technical development and unique approach to advanced technologies, Sovcomflot has the ability to meet the most demanding customer requirements, providing effective transportation for oil and gas companies.
Glencore International AG is one of the world’s leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. Glencore is one of the world’s biggest independent suppliers of crude oil and oil products and through ST Shipping operates over 175 tankers through their offices in Singapore, Stamford and London.