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Lloyd's List Award

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"Lloyd's List", the major maritime publishing house, hosted the annual Lloyd's List Awards ceremony to honour industry companies and their chief executives for their achievements in shipping.

Newsmaker of the Year Award was received by Sergey Frank, President and CEO of Sovcomflot. The senior staff of Lloyd's List selected the figure from the shipping, insurance and energy industries who they felt had made the greatest  impact on the development of shipping and world trade over the past 12 months.

While presenting the award, "Lloyd's List" Editor Julian Bray noted: "Under  Mr. Frank's leadership, Sovcomflot has had a remarkable year of expansion and development, positioning itself as a serious global player. And with its  ambitious plans, Sovcomflot is certainly going to be a company to watch."

As the main news about Sovcomflot in 2005 was related to the company's involvement in major industrial projects in energy sector, basically in Russia, Mr. Frank stated that he would rather share the reward with "the Sovcomflot's  customers from major Russian and international oil and gas companies, such as Gazprom, Shell, Exxon, ConocoPhillips, Lukoil, as well as with the masters and crews working hard to provide for safe operation of modern - even unique -  vessels in harsh climate and navigation conditions of the Sakhalin area, the Baltic sea and the Russian Arctic".

Sovcomflot, the biggest shipping company of Russia, owning 50 vessels of total 4m DWT, specializes in energy transportation in the following segments:

-transportation of oil and oil products by conventional Suezmax, Aframax and Handymax tankers;

-transportation of liquefied natural gas and liquefied petroleum gas (LNG and LPG);

-transportation of oil by shuttle tankers in ice conditions.

All the tankers are double-hulled and their average age is 5 years.

According to preliminary estimation, gross operational revenues in 2005 exceeded USD 410m. In 2005 the company started three major industrial projects, i.e. Tangguh, Prirazlomnoye and Varandey.

Sovcomflot Press-Centre