Abu Dhabi’s AD Ports Group with KazMorTransFlot (KMTF), the national shipping company of Kazakhstan, fully-owned by the national Kazakhstan oil company KazMunayGas (KMG), has announced the acquisition and commencement of operations of two vessels designed for the transportation of Kazakhstan’s oil across the Caspian Sea.
The two oil tankers have been 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 $35m, and are specifically tailored for the Caspian’s shallow draft.
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 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.
