Rosneft and HSHI Join to Build Green Aframax Tankers

| Russia, Moscow and Republic of Korea, Yeongam County

Rosneft and Hyundai Samho Heavy Industries agreement Jun2017Rosneft, Russia’s largely state-owned fuel producer, and South Korean shipbuilder Hyundai Samho Heavy Industries Co. Ltd. (HSHI) signed an agreement earlier this month under which HSHI will provide technical support in the design and construction of Aframax class vessels, including those capable of using natural gas as a ‘green’ marine fuel. 

The agreement is a legally binding document, under which a joint venture “Zvezda-Hyundai” was established in May 2017 between Shipbuilding Complex Zvezda and HSHI in the field of engineering and project management. Vessels will be built at the Zvezda shipyard in Bolshoy Kamen, in Russia’s far east. HSHI will make sure that the working design documentation corresponds to the basic design of the vessel.

The establishment of the joint venture will enable HSHI, together with the Russian partner, to implement ship construction projects in the new promising segment of the shipbuilding market – the construction of Green Aframax tankers. Cooperation with the South Korean company will allow Rosneft to create an effective project management system in the field of large-capacity shipbuilding.

Zvezda Shipbuilding Complex Illustration“Technological partnership with the world’s largest shipbuilding company will allow us to acquire the necessary competencies in the area of engineering support and management of ship construction projects. This cooperation will ensure DTSS (discrete time system specification) and Zvezda Shipbuilding Complex access to unique technologies for the production of advanced marine equipment, such as modern environmentally friendly Aframax type tankers that run on NGV fuel, and will open prospects for the localization of production and development of the shipbuilding cluster in the Far East of Russia”, said Rosneft Chief Executive Officer Igor Sechin.

The Zvezda shipbuilding complex, known as Rosneft and Far Eastern Shipbuilding and Ship Repair Center (FESRC), was initiated in 2013. Established by a consortium comprised of Rosneftegas, Rosneft and Gazprombank, the complex will have Russia’s first shipyard for building large capacity vessels.

(Source: Rosneft)

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