STLC signs agreement of intent on construction and leasing out of vessels intended for Volgotrans and Petrotanker

State Transport Leasing Company (PAO GTLK) has signed an agreement of intent for construction and leasing out of 10 dry cargo carriers intended for Volgotrans as well as 5 chemical tankers and 5 dry cargo carriers for Petrotanker. As State Transport Leasing Company told IAA PortNews, 20 ships with deadweight ranging between 5,000 and 7,000 tonnes will be built by Nefteflot shipyard in Samara.

“It can be said that shipbuilding is reviving in Samara, for the first time over 125 years. That was possible with large scale state efforts towards the development of domestic shipbuilding and retrofitting of sea and river fleets, particularly through attraction of financing with GTLK mechanisms. Signing the agreements for construction of 20 vessels is the first phase of GTLK programme on water transport leasing development”, comments the company.

On 1 June 2018, Petrotanker announced that the lead oil tanker of Project RST11, Svyatoy Knyaz' Vladimir, built by Nefteflot to the order of State Transport Leasing Company set off for her maiden voyage. The construction was financed through leasing with the use of a utilization grant.

State Transport Leasing Company (GTLK) is Russia’s largest player in the lease market. It leases out aircraft, vessels, rail transport, road vehicles and special equipment to domestic transport enterprises and invests in the development of Russia's transport infrastructure. The company's sole shareholder is the Russian Federation represented by the Ministry of Transport. GTLK holds double-B ratings from the world’s three leading international rating agencies and an A+(RU) national rating from ACRA. As at 30 September 2017, GTLK's IFRS assets exceeded RUB 291 billion.