Composition of the fleet

As of 31 December 2018, the Group’s fleet included 144 vessels with a total deadweight of 12,443 thousand tonnes.

Composition of the Sovcomflot Group fleetIncluding the eet of joint ventures: 9 LR1 product carriers and 4 LNG carriers
Vessels by type Number of vessels Total deadweight, ’000 tonnes
31/12/18 31/12/17 31/12/16 31/12/18 31/12/17 31/12/16
Crude oil tankers 53 59 59 7,006 7,653 7,653
Product tankers 48 49 49 3,071 3,120 3,120
Shuttle tankers 16 16 16 1,301 1,301 1,301
LNG and LPG carriers 13 13 12 870 870 790
Bulk carriers 2 2 2 150 150 150
Multifunctional icebreaking vessels 10 9 6 38 35 25
Seismic exploration vessels and chartered vessels 2 2 2 7 7 7
Total 144 150 146 12,443 13,136 13,046

For more information about the fleet, broken down by division, see section Company’s profile of this Report. Detailed information about the vessels and their technical characteristics is available on SCF Group’s website in the List of vessels section.

In 2018 the Company continued to add new vessels to its fleet in accordance with the adopted strategy and long-term development programme aimed at promoting growth and renewal of the fleet as well as its technological enhancement and improvements in energy efficiency. During the year the SCF Group fleet was augmented by 4 vessels delivered by shipyards under previously concluded shipbuilding contracts (for more details see section 3.2.3. of this Report, Implementation of the shipbuilding programme).

The Long-Term Development Programme of PAO Sovcomflot provides for timely disposal of older vessels, as dictated by market conditions and prescribed by conventions, registries, and other national and international requirements (those of the International Maritime Organisation, classification societies, and charterers).

During 2018 Sovcomflot Group sold 10 over-age vessels in the second hand vessel market (nine Aframax tankers and one MR product tanker with an average age of over 17 years and a total deadweight of about one million tonnes).

Therefore, in 2018 the number of vessels in the Group’s fleet decreased by 4%. Its total deadweight decreased by 693 thousand tonnes or by 5.3%.

The average age of the Group’s fleet at the end of 2018 was 10.2 years, which is 12% less than the average for leading shipping companies (according to Clarksons).

Age characteristic of the Group’s fleet as of 31 December 2018
Vessels by type Average age in years
Crude oil tankers 11.2
Product tankers 10.8
Shuttle tankers 10.0
LNG and LPG carriers 7.4
Bulk carriers 6.0
Multifunctional icebreaking vessels 6.9
Research vessels and chartered vessels 7.1
SCF Group fleet 10.2