Sovcomflot Builds Aframax Presence in LNG-Fuelled Tanker Market

by Ship & Bunker News Team
Monday November 27, 2017

Sovcomflot has ordered two more aframax tankers able to run on liquified natural gas (LNG) bunker fuel joining the four it ordered earlier this year.

The six ships will be delivered in 2018-2019, according to maritime news provider Lloyd's List.

In addition, the construction of five crude and product carriers ordered by Rosneft in September will be supervised by Sovcomflot and the company will go on to manage and operate the ships when they are delivered in 2021. According to the Lloyd's List report, the ships will share the same design as the Sovcomflot vessels.

"We want to get ahead in trying to make cost efficient ways to address the [environmental and regulatory] issues," Sovcomflot chief financial officer Nikolay Kolesnikov was quoted as saying.

Aframax vessels tend to stick to regular, shortsea routes and are deployed by Sovcomflot in the Baltic and North Sea area.

In emission control areas, which cover the Baltic and North Seas, the sulfur cap on marine fuel is 0.1%. From 2020, the global sulfur cap is to set at 0.5%. 

The company is upbeat on the prospects for LNG as marine fuel.

"Port authorities will come up with incentives for shipowners to choose LNG going forward," the executive was quoted as saying. "We anticipate LNG fuel to become more and more popular."