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Bunker suppliers at the Russian port of Murmansk were given a boost this week following news that shipping firm Sovkomflot plans to build an oil terminal at one of its shipyards.

The new facility will be based at shipyard number 35 and will have a capacity of 2 million tonnes per year. Once completed , the terminal is set to have a positive effect on bunker sales at the Kola Bay port, which is traditionally a hub for Russian fishing fleets trawling the waters of the Barents Sea.

Terminal construction plans are reported to have already been approved by the board of directors at the Zvyezdochka Shipyard, which owns the shipyard.

Shipyard number 35 is one of two naval shipyards located in Murmansk Oblast, north-west Russia. The shipyards are being modernized in order to handle orders for the oil and gas sectors.

Sovkomflot is Russia’s largest shipping firm, specializing in petroleum and liquefied natural gas (LNG). Founded in 1995, the company is 100 percent state owned.