Privatization of Sovkomflot may be delayed till 2012
First Deputy Prime Minister of Russia Igor Shuvalov did not rule out the privatization of Sovkomflot might be postponed until 2012, RBC News reported.
"We have agreed that the Ministry of Economic Development in the coming days should introduce the government’s draft decision on who will be selected as a seller", said Igor Shuvalov, adding the seller will most likely be one of the largest investment companies. He noted that "this fall, in October or November, the stake will be ready for sale."
According to the federal property privatization plan for 2011-2013 approved by the Government, on its first phase the state will sell up to 75% of its stake in Sovkomflot and then (until 2013) - 50% plus one share.
St.Petersburg-headquartered Sovcomflot (SCF Group), the biggest shipping company in Russia, ranks the fifth top tanker company in the world. The Company specializes in global transportation of crude oil, petroleum products and other energy sources. The Group's fleet comprises 156 vessels of total deadweight of nearly 12 million tons, the average age of the tanker fleet is 6,6 years. SCF’s newbuildings program includes 15 vessels of total deadweight of about 1,73 million tons.
"We have agreed that the Ministry of Economic Development in the coming days should introduce the government’s draft decision on who will be selected as a seller", said Igor Shuvalov, adding the seller will most likely be one of the largest investment companies. He noted that "this fall, in October or November, the stake will be ready for sale."
According to the federal property privatization plan for 2011-2013 approved by the Government, on its first phase the state will sell up to 75% of its stake in Sovkomflot and then (until 2013) - 50% plus one share.
St.Petersburg-headquartered Sovcomflot (SCF Group), the biggest shipping company in Russia, ranks the fifth top tanker company in the world. The Company specializes in global transportation of crude oil, petroleum products and other energy sources. The Group's fleet comprises 156 vessels of total deadweight of nearly 12 million tons, the average age of the tanker fleet is 6,6 years. SCF’s newbuildings program includes 15 vessels of total deadweight of about 1,73 million tons.