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SCF Inks USD 260 Mn Loan to Finance Arctic LNG Tanker

first_imgzoom Russia’s largest shipping company SCF Group (PAO Sovcomflot) and its compatriot VTB Bank signed a USD 260 million loan agreement to finance the construction of an Arctic LNG tanker for the Yamal LNG project. The new tanker will be able to carry up to 172,600 cubic metres of liquefied natural gas (LNG) and has an ARC7 enhanced ice class, enabling independent navigation in ice fields of up to 2.1 metres thick.The vessel, scheduled for delivery in the first quarter of 2017, will have a 45 MW propulsion system.“We are completing the construction of an innovative vessel, which has no analogues in the world to date, and we have concluded a unique transaction to finance this project. This is one of the first such agreements ever signed in Russia, to finance a vessel construction, which is traditionally a very capital-intensive and long-term investment project,” Sovcomflot’s President and CEO, Sergey Frank, said.In May, Sovcomflot reached an agreement with South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) to postpone the delivery of the ARC7 ice-class vessel which was scheduled to join its owner in June 2016.The shipbuilder set the new date at the end of January 2017, postponing the delivery by seven months.SCF and DSME signed the USD 316 million worth agreement for the new tanker in March 2014.Ordered under a USD 5 billion newbuild program for 16 ice-breaking LNG carriers, the new ship is designed to transport LNG from a gas field in the Yamal Peninsula (Yamal LNG), Siberia.last_img read more

The 9 at 9 Monday

first_imgEvery morning, TheJournal.ie brings you the nine stories you need to know a little before 9am.1.#MEETING: The newly-elected Labour leader, Joan Burton, will meet with the Taoiseach Enda Kenny today. The pair will discuss policy priorities and the Cabinet reshuffle.2.#BUDGET 2015: Employers’ group Ibec says that the government need only cut 10% of the proposed €2 billion in this year’s Budget.3.#OUT IN FORCE: The numbers of gardaí have fallen consistently over the last number of years, as this chart shows.4.#COURT: A man and a woman will appear in court this morning, charged with the assault of a man in Ranelagh in Dublin early on Saturday morning.5.#CHILDREN: More than 3,000 children were waiting to be referred to mental health professionals at the end of March, the Child and Adolescent Mental Health Service has revealed.6.#GREYHOUND: Staff at Greyhound Recycling who claim that they have been ‘locked out’ will march to Dublin’s City Hall today. The SIPTU members are calling on the public to support the march.7.#BRIGHT HORIZON: A shelved proposal for a €100 million shopping centre in Limerick has been revived. The former Parkway Shopping Centre will create 2,000 jobs, investors say.8.#ISRAEL: Israel has killed nine people in drone strikes on Gaza, medics say. The strikes came after militants fired dozens of rockets into Israel.9.#GARTH: A number of today’s newspapers report an array of compromises and deals that may be struck that will see Garth Brooks either play four nights at the Aviva stadium, play the two cancelled shows next year or take a break between gigs.last_img read more