Rumors of Russian shipping giant Sovcomflot attempting to dispose about a third of its fleet. The Russian company is a little cagey on whether this is true
The company owns and operates 122 vessels, including 50 crude oil tankers, 34 tankers for transportation of oil products. 14 shuttle tankers, 10 gas carriers and 10 icebreakers.
https://www.hellenicshippingnews.com/russias-sovcomflot-says…
Do not know whether US & Western European governments will put pressure on shipping companies from their own countries e.g. Greece, France, Norway, Italy, etc. to avoid dealing with Sovcomflot. That does open the door to murkier elements to get involved in deals.
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That does open the door to murkier elements to get involved in deals.
I’m sure Kim’s crew would love to expand their fleet of “oops, did I turn off my AIS beacon again” beyond the Hao Fan 6. As for why someone hasn’t put a Mk48 in the thing yet…
5/20
An update on this item.
Was perusing a shipping brokers report and noticed some recent transactions
The four LNG tankers - SCF Timmerman, SCF Barents, SCF Mitre, SCF Melampus sold to Eastern Pacific Shipping (EPS) listed as a bank sale
https://www.hellenicshippingnews.com/seasure-market-report-2…
At $150M - $200M per vessel, did EPS get a good deal?
Somewhat tricky to determine. If you scroll a little further in the broker’s report, there is listed prices for new LNG tankers with deliveries in the 2025-2026 time frame.
EPS recently acquired most of the Golar LNG (GLNG) shipping fleet, and those slightly older vessels were acquired for around $130M each
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