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Rosneft, VEB Leasing & Sovkomflot Signed Agreements for Construction of 2 Aframax Tankers

Source: 9/11/2018, Location: Asia

Rosneft Oil Company, Zvezda Shipbuilding Complex, Arctic Leasing LLC (a VEB Group Company) and SKF ECO LLC (a Sovkomflot Group Company) in the framework of the Eastern Economic Forum signed a number of agreements for construction of two new generation Aframax crude oil tankers operating on LPG with their subsequent long-term chartering.

In the ceremony of the exchange of documents that took place in the presence of Russian President Vladimir Putin, took part the Chief Executive Officer of Rosneft Igor Sechin, General Director – Chairman of Sovkomflot Sergei Frank, General Director of JSC VEB-Leasing Artem Dovlatov.

Therefore, along with the agreements signed at EEF-2018 the portfolio of orders for this type of tankers has grown to 12 units. This is the largest serial order placed at Russian shipyards lately.

According to the documents, Arctic Leasing will place orders for construction of two Aframax-type tankers with 114 thousand tons deadweight at the shipyard, which under the leasing agreement will be put into operation by SKF Eco. In their turn, Rosneft and SKF Eco will sign two time charter contracts (lease of vessel with a crew) for 20 years for export deliveries of crude oil and petroleum products from the Russian Baltic ports. After the charter period is over the vessels will become the property of Rosneft.

These tankers are new generation vessels powered by gas motor fuel and meeting high environmental standards and new regulations for restriction of Sulphur oxide and green house gas emissions in the Baltic and Northern Seas that will take effect in 2020.

The tankers will be provided to the customer in 2022 and will operate under the Russian flag.

These agreements will facilitate localization of manufacturing of vessel equipment, obtaining of the best practice experience in designing of cargo ships as well as development of shipbuilding and industrial cluster in the Far East of Russia.

Signing of these contracts is a logical follow-up of the agreement with the Far Eastern Shipbuilding Center signed in June, 2014 pursuant to which all Rosneft orders for sea equipment and ships shall be placed with Zvezda.

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