Sovcomflot looks to increase joint fleet with Glencore by 5 vessels
MOSCOW. March 5 (Interfax) - OJSC Sovcomflot plans to increase its joint fleet with Glencore by five tankers, the company's first deputy general director, Yevgeny Ambrosov, has told the press.
Each of the tankers will cost roughly $50 million, Ambrosov said. They will be LR1-class vessels with deadweight of 70,000 tonnes, he said.
The jointly owned fleet already has five LR1 (SCF Alpine type) vessels, four of which are in the process of being built.
Sovcomflot is the world's second biggest operator of Aframax tankers and the largest operator of product, arctic, and icebreaker tankers. The fleet includes 146 vessels with capacity of more than 10.5 million deadweight tonnes. Sovcomflot is 100% state-owned. The company transports not only hydrocarbons, but provides services in maritime storage and technical management of other companies' vessels. The government is Sovcomflot's sole shareholder,
Sovcomflot's International Financial Reporting Standards (IFRS) sales revenues for 2010 increased 8.3% to $1.3 billion, according to the preliminary figures.