Al-Iraqia Shipping Services & Oil Trading (AISSOT), a joint-venture company of Iraqi Oil Tankers Company (IOTC) & Arab Maritime Petroleum Transport Company (AMPTC), has successfully completed its maiden supply of bunkers in the transhipment area of the Suez Canal, Egypt.
On 29 September, it supplied 1,500 metric tonnes (mt) of 380 centistokes (cSt) grade fuel oil and 300 mt of low sulphur marine gas oil (LS MGO), all meeting ISO 8217:2010 specifications, to the LPG vessel Gas Beauty via bunkering tanker MT Andros.
“The AISSOT team received congratulatory messages from Egyptian Authorities on successful completion of first bunker supply of AISSOT in Egyptian Territorial waters,” it said.
“As about 1200 ships cross Suez Canal every month and as there is a natural waiting period of 12 to 18 hours to cross the channel; provides a good opportunity for the ships to bunker and utilise this waiting period.
“Currently vessels transiting Suez Canal struggle to obtain bunker fuels at competitive price in the region. Long haul ships must divert to nearby ports to obtain bunkers that too at very high prices.
“At times long haul ships carry huge quantity of bunkers thereby reducing their freight earning tonnage. With availability of bunkers at Suez, shipowners can maximize cargo and top-up at Suez on their onward voyage.”
Moving forward, AISSOT intends to introduce additional bunker barges both for fuel oil and MGO deliveries, and targets bunker sales volume of 200,000 mt per month within the span of one year.
The company in early September received a bunker license to operate in Suez Canal / Egyptian Territorial Waters.
Photo credit: Al-Iraqia Shipping Services & Oil Trading
Published: 2 October, 2018
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