Russia Planning Sale of Sovcomflot By End of Year

By Leigh Thomas PARIS, Aug 29 (Reuters) - Russia still aims to go ahead this year with the sale of a stake in shipping company Sovcomflot, its economy minister said on Tuesday after the deal was put on hold earlier. Russia revived a long-running privatization program to boost state revenues and overhaul its corporate management culture after sanctions were imposed over the … [Read more...]

Ice-Class LNG Carrier ‘Christophe de Margerie’ Starts Maiden Voyage Through Northern Sea Route

The ice-class LNG carrier Christophe de Margerie has entered the Arctic's Kara Sea marking the official start of its maiden voyage through the Northern Sea Route as part of its unescorted voyage from Norway to South Korea, the Yamal LNG project said Tuesday. Delivered last November by South Korea's Daewoo Shipbuilding Marine Engineering, Christophe de Margerie is the first … [Read more...]

Russia in Talks to Privatize Sovcomflot, Its Largest Shipping Company -Report

MOSCOW, Aug 1 (Reuters) - Russia is in talks with Asian investors on the privatisation of state shipping company Sovcomflot, the RIA news agency cited Russian First Deputy Prime Minister Igor Shuvalov as saying on Tuesday. The government does not rule out other forms of the company's privatisation apart from an initial public offering, the agency quoted Shuvalov as saying. … [Read more...]

Russia Wants to Split Sovcomflot Sale Among Small-Stake Investors – Sources

By Gleb Stolyarov and Jack Stubbs MOSCOW, May 18 (Reuters) - Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. The current era of low tanker market prices is far from the ideal time for … [Read more...]

WinGD to Power World’s First Gas-Powered Aframax Crude Oil Tankers

Russia's largest shipping company SCF Group has selected Swiss-headquartered Winterthur Gas & Diesel (WinGD) to provide the duel-fuel engines for the first ever gas-powered Aframax tankers. Under a contract signed in March, WinGD will supply the low-speed dual-fuel engines that will power the oil tankers. SCF Group has chosen WinGD's seven-cylinder, 62 cm bore type … [Read more...]