New company to manage Kola Bay terminal

As part of a major consolidation of assets, Russia’s largest ship owner, state-owned Sovcomflot, has announced the creation of a new ports company called SCF Terminals. In addition to ports in the Baltic and the Far East, SCF Terminals will manage the Belokamenka floating oil terminal in the Kola Bay near Murmansk. But Sovcomflot is also considering replacing the Belokamenka with a double hull floating production storage and offloading vessel, according to Lloyd’s List.

The Belokamenka acts as a collection point for small tankers delivering oil from the ports of Varandey, Arkhangelsk and the Gulf of Ob and reloads oil into 100,000-150,000-metric-ton carriers for export to the United States, Canada and northwest Europe.

—Sarah Hurst