Rosneft and Pietro Barbaro form shipping joint venture

Rosneft and Pietro Barbaro form shipping joint venture

Rosneft and Italy’s Pietro Barbaro have signed an agreement to establish a joint venture for what the pair described in a release as “international sea freight”.

Pietro Barbaro will ship oil for Rosneft under the joint venture.

“The cooperation with the Italian party will allow Rosneft to strengthen its position in the tanker market, increase the economic efficiency of its logistics business dimension and as a consequence boost the profitability of its operations,” Rosneft noted.

Rosneft ceo Igor Sechin said: “Our collaboration with Pietro Barbaro has moved to a new level. Following the acquisition of shipping assets in Russia, we take the next step in the development of our relations with a long-standing partner. The new joint venture will allow Rosneft not only to increase the presence on the Russian market, but also take a strong position on the world’s shipping scene.”

Rosneft has also inked another agreement with an Italian firm, Fincantieri, to develop shipbuilding in Russia.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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