Dynamics of investments
The investment activities of Sovcomflot Group are performed as part of the Long-Term Development Strategy of the Group. Every specific project is developed and evaluated according to the Company’s internal regulations.
With due regard for the Group’s strategic priorities, the Investment Programme chiefly focuses on the implementation of highly profitable industrial projects in the field of transportation of liquefied gas and the servicing of offshore hydrocarbon fields. In 2018 most investments were directed to these segments. Investments were also made in the repair and modernisation of the existing fleet of the Group.
In 2018 investment projects financing amounted to US$379.3 million, which is 32% less than in 2017.
| Client / project | Target | Number | Implementation stage (as of 31 December 2018) |
|---|---|---|---|
| Total | Construction of an Atlanticmax LNG carrier | 1 | The vessel is under construction |
| Sakhalin Energy / Sakhalin-2 | Construction of multifunctional ice-breaking vessels | 4 | The vessels have been put into operationThree vessels of the series were added to the fleet in 2017 and one in 2018. |
| Gazprom Neft / Novy Port | Construction of an MR Arctic shuttle tanker | 1 | The vessel is under construction |
| Rosneft | Construction of dual-fuel Aframax tankersThe vessels were ordered by a VEB-Leasing Group company and are to be subsequently transferred to SCF Group for operation after completion of construction. | 2 | The vessels are under construction |
| ShellSovcomflot Group and Shell entered into long-time charter contracts for two vessels of the series in February 2018. | Construction of dual-fuel Aframax tankers | 6 | Three tankers have been put into operation, another three vessels are under construction |
| Shell | Construction of Atlanticmax LNG carriers | 2 | The vessels are under construction |