St. Petersburg's Baltiysky Factory released a newly built tanker into the water on August 8, which was ordered by German company Trans Ocean Ship Management of Hamburg, according to the Baltiysky Factory press service. The ship with a deadweight of 5.8 thousand tonnes received the name of one of the founders of the company - George Essberger. The tanker is 99.99 meters long and 16.5 meters wide with a maximum immersion of 6.78 meters.
The first ship built according to the contract with Trans Ocean Ship Management, the Philip Essberger, was delivered to the company on July 28, 2003. The sum of the contract for the building of two tankers was not disclosed. However, the cost of such a tanker depending on the number of tanks and deadweight ranges from USD 12-20 million.
The new tanker has twofold walls and a twofold bottom. The pipeline and storage tank systems were built from a special steel. Each freight compartment is equipped with its own pump and separate pipeline system. The tanker has 20 freight compartments of various volumes.
The authorized capital stock of Baltiysky Factory on April 25, 2003 was valued at USD 8.75 million, which is divided into 1.1 million shares at a nominal cost of USD 7.92 per share. IST Group owns 70% of the shares in the factory and Karavan Zvezd owns 17.36%. Individual shareholders control about 12% of the shares.