OREANDA-NEWS. Joint Stock Company Sovcomflot and Vyborg Shipyard JSC (VSY) represented by President and CEO of Sovcomflot Sergey Frank and General Director of VSY Alexander Solovyev signed Memorandum on Cooperation.

Subject of the Memorandum is strengthening of the parties' cooperation in the field of domestic civil shipbuilding. Sovcomflot is Russia's largest shipping company specializing in transportation of oil and oil products and LNG and also one of the world's leading tanker fleet operators. Vyborg Shipyard is one of the leading Russia's shipbuilding yards in construction of sea-going civil vessels, multi-purpose platform supply vessels, semi-submersible floating drilling platforms for Arctic offshore oil and gas fields development. The yard strategy provides for consecutive and stage-by-stage upgrading of production facilities, reduction of production costs, increasing competitiveness and efficiency of construction of vessels, modules and different class floating structures.

The Memorandum on Cooperation was signed as an additional part of the Agreement concluded in January 2013 between United Shipbuilding Corporation (USC) and Sovcomflot on construction of ice class platform supply and support vessels at USC shipyards. Earlier Vyborg Shipyard participated in construction of first two vessels of the series "Vitus Bering" ordered by Sovcomflot for the purposes of Sakhalin-1 project. About 90 % of the hull structures were fabricated at Vyborg Shipyard.