The predecessor of future PRISCO, the Directorate of Oil Carriers, was established on October 1, 1969 in a young Nakhodka town by Decree of the USSR Ministry of Marine. As to the PRISCO, it started its independent voyage on December 20, 1971 when the Minister of the USSR Ministry of Marine issued the Decree, which said that the Directorate of Oil Carriers should be separated from the Far-Eastern Shipping Corporation and become a base for establishing Primorsk Shipping Corporation (PRISCO).
Ever since, the Company was delivering oil cargoes to the Far-Eastern ports over 30 years. In a time of the USSR, from 1977 onwards, it was PRISCO that almost exclusively provided eastern sector of the Arctic with the oil products. The Arctic expeditions have become the core component of PRISCO’s fleet activity. Seafarers gained necessary skills and experience in these expeditions, and new generations of young officers hardened their characters there.
In the late 80s and in the early 90s the whole country has taken a great hit of the Restructuring, and all of a sudden everything has collapsed sweeping away obsolete machinery of the government, state structures and cross-sectoral linkages. New political and economical reality of the young Russia badly affected the functioning of all country’s enterprises. And yet, PRISCO managed to survive and to continue its work having made some major adjustments in it. PRISCO bit by bit renovated its fleet, trained its professionals, concluded chartering contracts and hence went on to further transporting of oil cargoes.
PRISCO entered a new age with a convoy of 46 vessels having total deadweight of about 1,000 000 tons. The Company was named the best national exporter in its age of 30 and took its rightful place in the top 10 leading Russian enterprises. PRISCO celebrated its 40s anniversary alongside a young fleet with a total deadweight of 1,200 000 tons. Thirteen brand-new tankers, which have come into being in this young century, kept plying the seas of South-East Asia, Indian Ocean and the Arabia Gulf. They also worked off the coast of Africa and in the ports of Europe, South and North America.
However, business conditions continued to evolve while maintenance costs for tankers were growing and international requirements were being tightened. It became evident that retaining experienced professionals and enabling them to earn a fair wage would call for finding contacts with shipping companies and providing them manning services on an on-call basis. In November 2003 PRISCO got licensed to provide crews for foreign vessels and started its crewing activity. The first fruit was the crew for chemical tanker “Stolt Nanami”. PRISCO seafarers have successfully stood the test and turned welcome on board of many other vessels belonged to foreign ship owners. Since then PRISCO have been recruiting and employing officers and ratings to foreign shipping companies more over 15 years.