Image credit: Sovcomflot

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PAO Sovcomflot (SCF Group) has signed a set of agreements with Rosneft, Zvezda Shipbuilding Complex and VEB Group for the time charter, construction and financing of two LNG-fuelled, large-capacity Aframax tankers.

VEB-Leasing will finance the construction of the tankers, which are to be built by Zvezda shipyard and chartered by Rosneft for 20 years.

The 114,000-deadweight-tonne (dwt) vessels will be 1A/1B ice class, making them capable of operating all year round in areas with difficult ice conditions, including sub-Arctic seas and Russian ports of the Baltic region.

The technical specification of the vessels was designed by SCF's specialists in cooperation with the Far Eastern Shipbuilding and Ship Repair Centre (FESRC) and Hyundai Heavy Industries, a technological partner of Zvezda Shipbuilding Complex.

Commenting on the vessel orders, Sergey Frank, President and CEO of PAO Sovcomflot, said: "We welcome the plans of the Russian shipbuilders, from Zvezda Shipbuilding Complex, to create modern large-capacity vessels using natural gas-based bunkers (LNG) as their primary fuel. I'm sure that it is with such vessels that the future of merchant shipping lies."

"I am confident that the experience gained in the technical and commercial operation of SCF's next generation tankers will be in demand both with our customers and Russian shipbuilders, helping to consolidate the leadership of Russian companies in the implementation of 'green technologies' in maritime transport. Sovcomflot is grateful to Rosneft for its decision to use next generation LNG-fuelled tankers in its export programme," he added.

In addition to senior management from Rosneft, Sovcomflot and VEB, the signing ceremony was also attended by Russian president Vladimir Putin.