UAE-based port operator AD Ports Group in collaboration with Kazakhstan’s national oil company KazMorTransFlot (KMTF) has announced the acquisition and commencement of operations of two oil tankers designed for the transportation of Kazakhstan’s oil across the Caspian Sea.
The two tankers were named Liwa and Taraz – after ancient cities in the UAE and Kazakhstan, respectively, and have been acquired under AD Ports Group’s joint venture with KazMorTransFlot (KMTF) – Caspian Integrated Maritime Solutions (CIMS), to provide offshore and shipping services for commodity exporters in the Caspian, as announced in December 2022.
The two vessels represent a combined investment of $35 million, and are specifically tailored for the Caspian’s shallow draft. The vessels are also equipped with inert gas systems in alignment with international regulations.
Operating along the strategic route across the Caspian Sea, the vessels will serve as shuttle tankers, undertaking consecutive voyages to move Kazakhstan’s oil to Azerbaijan. AD Ports said that the service contributes to the diversification of the transportation routes for oil for onward delivery to the world through the Mediterranean or Black Sea, improving Kazakhstan’s global trade footprint.
“This investment in advanced vessels equipped with inert gas systems marks a strategic milestone for AD Ports Group. As we expand our footprint into shipping and global networks, we are not only ensuring the safe and efficient transport of Kazakhstan’s oil but also setting a precedent to guide safety and security advances in the maritime industry,” Capt. Ammar Mubarak Al Shaiba CEO – Maritime & Shipping Cluster, AD Ports Group, said.
“We are implementing this project together with our strategic partner AD Ports Group in accordance with the task of the President of the Republic of Kazakhstan K.K.Tokayev, to create alternative routes for transportation of Kazakhstani oil,” Aidar Orzhanov, General Director, KMTF, the National Maritime Shipping Company of Kazakhstan, said.
“This will allow us to efficiently, and safely transport Kazakhstani oil in Caspian Sea for further shipment to international markets. We believe that this is only the first step of our long-term cooperation with AD Ports Group.”
This latest investment brings the total number of oil tankers operating under the KMTF agreement to five, following the acquisition of three Aframax tankers earlier in 2023.
The latest vessels are being acquired as part of AD Ports Group’s strategic expansion into the maritime corridor.
Source: Offshore Energy
