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LATEST LNG CARRIER DELIVERED TO SOFCOMFLOT

LATEST LNG CARRIER DELIVERED TO SOFCOMFLOT

Friday, January 15, 2021 

Russian shipping company PAO Sovcomflot (SCF Group) has taken delivery of 'SCF Timmerman', a 174,000m3 LNG carrier, which will operate under a long-term time charter agreement with Shell.

The carrier, built by Hyundai Samho Heavy Industries, is named after Frans Timmerman, a 17th-century Dutch merchant who served as a shipbuilding mentor to the Russian emperor Peter the Great and played an important role in creating the Russian seaborne fleet.

Igor Tonkovidov, President and CEO, PAO Sovcomflot, said: “SCF Group and Shell enjoy a long-standing, mutually beneficial partnership. Shell is amongst the biggest charterers of SCF’s vessels. All projects realised by the two companies, over the last five years, are distinguished by high levels of environmental safety and the adoption of energy-saving shipping technologies. By adding another vessel to our gas fleet and expanding our cooperation with Shell, we contribute to achieving our strategic goals of solidifying our position in LNG shipping and growing our portfolio of long-term, fixed income contracts, which provide SCF with stable cash flows, resistant to freight market fluctuations.”

SCF Timmerman is the third vessel in a series of 174,000m3 new-generation Atlanticmax LNG carriers ordered by SCF Group in 2018. The lead vessel of the series, SCF La Perouse, was delivered to SCF in February 2020 and is time chartered to Total. The second vessel in the series, SCF Barents, was delivered to SCF in September 2020 and is also time chartered to Shell.

Vessels in this series incorporate the latest technologies in terms of safety, environmental protection, and energy efficiency, with their fuel consumption substantially reduced compared to the preceding generation of vessels. Each LNG carrier is equipped with an advanced Mark III Flex cargo containment system, slow-speed dual-fuel X-DF engine, and a system that reduces NOx emissions while the vessel sails in liquid fuel mode. In addition, all vessels of the series are among the first globally to feature a boil-off gas partial re-liquefaction system, which significantly reduces cargo losses while on long voyages or awaiting cargo operations.

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