Russian Gov’t to sell its stake in SCF in 2012-13
The Russian Government plans to sell a 50% (minus 1 share) stake in Russia’s largest shipping company Sovcomflot (SCF Group) in 2012-2013, a new government’s order reads.
The order makes changes to the projected privatization plan and the main directions of the federal property sale scheduled for 2011-2013. By 2016, the government intends to fully pull out from the shipping company.
SCF specializes in the transportation of oil products and liquefied gas. The Group’s fleet comprises 157 vessels with total deadweight of about 11,830,000 tons. The company is headquartered in St. Petersburg and also has offices in Moscow, Novorossiysk, Murmansk, Vladivostok, London, Limassol, Madrid and Singapore.