AD Ports Group, in collaboration with KazMorTransFlot (KMTF), Kazakhstan's national shipping company, fully-owned by the national Kazakhstan oil company KazMunayGas (KMG), has announced the acquisition and commencement of operations of two state-of-the-art vessels designed for the transportation of Kazakhstan's oil across the Caspian Sea.
A naming ceremony took place in Aktau, Kazakhstan, attended by a number of guests and dignitaries including Nurlan Nogayev, Akim of Mangistau Region; Dr. Mohamed Saeed Mohamed Alariqi, Ambassador of the UAE to Kazhakstan; Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group; and Magzum Mirzagalyev, Chairman of the Management Board of KMG.
The two oil 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 US$35 million, and are specifically tailored for the Caspian's shallow draft, with specifications to meet the stringent requirements of international oil companies. The vessels are also equipped with inert gas systems, a crucial step in ensuring safety and compliance with modern standards.
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. This service contributes to the diversification of the transportation routes for oil for onward delivery to the world through the Mediterranean or Black Sea.
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.
