• 2020 April 14 17:52

    SCF Group wins Marine Money’s 2019 Deal of the Year Award in the ‘Project Financing’ category

    Sovcomflot (SCF Group) says it has received the ‘Project Financing Deal of the Year Award’ at the 2019 Deal of the Year Awards staged by Marine Money, an international maritime finance publication.

    The award-winning transaction was an eight-year USD 176 million non-recourse credit facility, concluded by SCF Group’s and NYK Line’s joint ventures, with three banks: Sumitomo Mitsui Banking Corporation of Japan; Société Générale of France, and Shinsei Bank of Japan, in September 2019.

    The facility was used towards refinancing two ice-class LNG carriers servicing the Sakhalin-2 project, Grand Aniva and her sister ship Grand Elena, which are jointly owned and operated by SCF Group and NYK Line.

    Nikolay Kolesnikov, Executive Vice President & Chief Financial Officer of Sovcomflot, said:

    “SCF Group is honoured to be the recipient of Marine Money awards for the tenth consecutive year. We see this award as a tribute to SCF Group’s ability to conclude novel and sizeable credit facilities, and to retain access to a wide variety of financing sources and structures, at every stage of the shipping market cycle.”  

    Marine Money highlighted the non-recourse structure of the deal, which reflects Sovcomflot’s and NYK’s first-class reputation within the international financial markets, and the strength of the cash flows from the long-term time-charter contracts with Sakhalin Energy, the operator of the Sakhalin-2 project.

    In addition, the timing of the deal allowed the borrowers to arrange the credit facility at an historically low interest rate.

    Also of prime importance was the environmental element of the deal. This financing facility became one of the first of its kind, within the global shipping industry, to integrate provisions that enable lenders to comply with the Poseidon Principles, an initiative by leading banks that promotes environmentally responsible shipping. It commits the signatory banks to assess the environmental impact of the vessels they finance, and to disclose the climate alignment of their ship finance portfolios. The Poseidon Principles are consistent with the decarbonisation policies and ambitions of the International Maritime Organisation (IMO).

    Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas production. The Group’s fleet includes 146 vessels with a total deadweight of 12.6 million tonnes. More than 80 vessels have an ice class.

    Sovcomflot is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The company is headquartered in Saint Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.

    SCF Group continually looks to reduce the environmental impact of its operations. In 2018, the Group pioneered the adoption of cleaner-burning LNG fuel as a primary fuel for large-capacity tanker shipping, and in general, for vessels not tied to fixed routes and set timetables.

    The global professional community has recognised Sovcomflot’s accomplishments in decarbonisation on numerous occasions over the last years. This includes the Company receiving the Environmental Award – Individual Company at Lloyd’s List Global Awards 2018 and Company of the Year Award at Lloyd’s List Europe Awards 2019. Gagarin Prospect, the inaugural vessel in the SCF’s pioneering ‘Green Funnel’ series of LNG-fuelled crude oil tankers, won the 2019 Marine Propulsion Award for Ship of the Year and the Nor-Shipping Next Generation Ship Award.




2020 October 28

17:30 Key element of Russia’s collider facility NICA transshipped in Bronka
17:06 GONDAN delivers new fishing stern trawler to Prestfjord AS
16:39 Rosmorrechflot resumes work on programme for encouraging LNG-powered shipping
16:13 Cavotec launches next generation MoorMaster
16:05 CNL awarded Transport Canada contract to research clean energy technologies to decarbonize marine sector
15:48 Profit attributable to NOVATEK shareholders amounted to RUB 24.1 billion in 9M’2020
15:25 Petersburg Oil Terminal increased shipments of oil products by 18% in 9M'2020
15:03 World’s first LPG-retrofit announced
14:56 SCF time charters three icebreaking LNG carriers to the Arctic LNG 2 project
14:22 FSUE Rosmorport to adjust design documentation for dredging at LNG terminal in Bechevinskaya bay
14:03 LNG-fueled PCTC“SAKURA LEADER” accredited as the world's first digital smart ship
13:37 Blue Wave terminal in Azov port increased its throughput by 13% in 9M’2020
13:11 Cooperation agreement signed between Fincantieri and the Cochin Shipyard
12:35 LNG bunkering vessel Optimus built by Damen arrived in Shanghai for start-up procedures and sea trials
12:04 CMA CGM announces PSS for cargo from Pakistan to North Europe
11:42 Global Ports to launch tank container repairs service at Yanino
11:23 MPA launches RFP for new LNG bunker supplier licence
11:01 4th “LNG Fleet, LNG Bunkering and Alternatives” conference kicked off
10:50 CMIT receives largest container vessel in Vietnam’s history
10:15 “All Ferries of Russia. Baltic Sea” webinar scheduled for 6 November 2020
10:10 Total charters four new LNG-powered vessels
10:01 MABUX: Bunker Market this morning, Oct 28
09:59 CMA CGM announces FAK rates from Asia to North Europe
09:46 Bunker market sees mixed price movements in the Port of Saint-Petersburg, Russia (graph)
09:28 Oil prices start decreasing
09:13 Baltic Dry Index as of October 27

2020 October 27

18:37 Bahri net profit up 114% in third quarter of 2020
18:07 Premuda and Columbia Shipmanagement form joint venture
17:52 Publication of first N2000 nautical charts postponed to 2021
17:45 Deep water berth extension at Port of Halifax fully operational
17:37 SC Ports welcomes two new ship-to-shore cranes
17:30 FSUE Rosmorport to take part in 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
17:06 Costa Cruises completes first LNG bunkering operation in Italy
16:24 OOCL updates North Europe – Turkey service
15:33 New tanks for storage and processing of polluted water have been put into operation in the port of Riga
15:04 Norway's biggest ferry company orders two new ferries from Havyard LAB
14:10 Port of Gothenburg posts results for January-September 2020
14:06 Krasniye Barrikady launched non-self-propelled cargo pontoon of Project GPRN
13:21 Wärtsilä cargo handling system design selected for new Very Large Ethane Carrier vessels
12:52 Bunker prices are stable in the Far East ports of Russia (graph)
12:27 BlueWater Reporting issues Q3 2020 World Liner Supply Report
12:09 HEINEKEN pioneers with zero-emission shipping
11:58 COVAXX and Maersk enter partnership to supply COVID-19 vaccines globally
11:03 Sea Port of Saint-Petersburg continues automation of railcars weighing
10:38 RF Government to look into development of national project focused on IWW
10:09 CMA CGM announces PSS for cargo from India North West ports to Europe
09:45 MABUX: Bunker Market this morning, Oct 27
09:40 Strategy for Developing the Russian Arctic Zone and Ensuring National Security until 2035 approved
09:22 Oil prices are recovering
09:07 Baltic Dry Index as of October 27

2020 October 26

18:03 Shipping emissions talks stall in London
18:03 Port of Klaipeda to get funds for sustainable development and digitization of the port’ management
17:42 34.6 million tonnes loaded in the Port of Klaipeda in 9 months of this year
16:58 Innovative solutions of MAPEI are increasingly widespread in shipbuilding
16:34 Kalmar continues long-term collaboration with Patrick Terminals with new order for AutoStrads
16:10 Average spot market price for Russian M100 product rose to RUB 12,430 pmt
15:46 Royal IHC and Suez Canal Authority successfully launch CSD HUSSEIN TANTAWY
15:34 EPS secures 15-year TC from STL for four dual fuel VLECs
14:52 RF Prime Minister approves list of checkpoints that can be crossed by foreigners with e-visas
14:31 Ocean Network Express to launch new intra Asia service