2022 November 23 09:54

Rosatom and USC may establish joint venture based on Baltiysky Zavod shipyard

The corporations are to control 51% and 49% of the new company’s stock accordingly

The structure and management of United Shipbuilding Corporation (USC) may be changed before the end of 2022, according to IAA PortNews’ sources. Baltiysky Zavod, Russia’s leader in construction of nuclear-powered icebreakers, was under USC control for slightly over a decade. Soon it may step out beyond the range of USC interests and be partially controlled by State Atomic Energy Corporation Rosatom.

IAA PortNews’ sources expect the decision on distribution of shares in the new joint venture of USC and Rosatom (49% and 51%) by the end of the week. The JV is to be based on Baltiysky Zavod shipyard. Personal changes in USC and Baltiysky Zavod can be undertaken, according to the sources. No comments from USC, Ministry of Industry and Trade or Rosatom have been obtained by the time of publication.

Saint-Petersburg based Baltiysky Zavod shipyard (Baltic Shipyard) was established in 1856. The shipyard specializes in the construction of ice class vessels with nuclear and diesel-electric propulsion as well as nuclear floating energy units. Under the contract with FSUE Rosatomflot, Baltiysky Zavod is building three LK-60 60MW icebreakers of Project 22220 (Ural, Yakutia and Chukotka). The lead icebreaker Arktika and the first serial icebreaker Sibir have already been put into operation. Multipurpose nuclear-powered icebreakers of Project 22220 ships are the world’s largest and most powerful icebreaking ships. Icebreakers of 22220 design will form the basis of Russia’s civil icebreaking fleet in the near time.

According to earlier statements, Rosatom plans to extend the series of Project 22220 icebreakers with the fifth and sixth units.

In late 2021, over 20 vessels got stuck on various lanes of the Northern Sea Route due to a challenging ice situation. They could not proceed independently and Rosatom organized and operation to escort the convoys of vessels involving the icebreakers. As the NSR traffic is expected to grow to 220 million tonnes by 2035, Rosatom builds up its fleet of icebreakers. At least 13 icebreakers will operate on the Northern Sea Route by 2030, according to the earlier statements.

In accordance with the Presidential Decree of 2018, the State Atomic Energy Corporation ROSATOM performs the functions of a single infrastructure operator for the development of the Northern Sea Route.

Related links:

At least 13 icebreakers to operate on the Northern Sea Route by 2030 >>>>

Main Directorate of NSR warns about lack of icebreakers>>>>

NSR cargo traffic can rise to 220 million tonnes per year – Vladimir Putin>>>>