AD Ports Group in collaboration with KazMorTransFlot (KMTF), the national shipping company of Kazakhstan, has announced the acquisition and commencement of operations of two tankers designed for the transportation of Kazakhstan’s oil across the Caspian Sea.
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 KMTF – Caspian Integrated Maritime Solutions (CIMS).
The two vessels represent a combined investment of USD35 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.
The vessels will serve as shuttle tankers, undertaking consecutive voyages to move Kazakhstan’s oil to Azerbaijan. This service contributes significantly 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 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.
Aidar Orzhanov, General Director, KMTF, the National Maritime Shipping Company of Kazakhstan, 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. 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.”