SAFEEN Group, New contract deploys three VLCCs and one MR Tanker
AD Ports Group’s SAFEEN Group and Amaan Baghdad Company have signed an agreement to support a new project relating to fuel oil transport and storage in Iraq.
Under the terms of the agreement, SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.
Working with Amaan Baghdad Company, SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker.
The fuel oil will then be transferred and stored on the VLCCs, which will serve as floating fuel tanks with monthly delivery capacity of 750,000 tonnes.
“The energy sector is an important growth market for SAFEEN Group, and this project demonstrates our expertise in this area as well as the extent and sophistication of our fleet,” affirmed Captain Ammar Mubarak Al Shaiba, Acting CEO, Maritime Cluster and SAFEEN Group, AD Ports Group.
“The global fuel oil market has been volatile in 2022, and this additional storage capacity will support Iraq’s competitive offering,” commented Fadie Fouad, CEO, Amaan Baghdad Company.
In addition to this new agreement, SAFEEN Feeders supports a weekly container service that connects Iraq with global markets.
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