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ADNATCO plans aging tanker fleet replacement
posted on 23/07/2005
 The Abu Dhabi National Tanker Company (ADNATCO) is set to replace its aging tanker fleet with newer ships as part of its strategy to sharpen its competitive edge in regional and international markets, according to company top executives. 'The process has already started and we have sold three old vessels. The Company is currently in the process of selecting a Project Management Consultant (PMC) for ship acquisition,' said Sultan Al Muhairi, ADNATCO Chairman.
A subsidiary of ADNOC Group, ADNATCO owns and manages a fleet of eight product tankers, molten sulphur tanker, bunkering ship and RORO ships,' Mohammed Salim Al Dhahiri, ADNATCO General Manager, went further to explain that, 'The company has plans to modernise its fleet with the size and type varying between 45,000 DWT to 120,000 tones aframax, from clean product to clean crude tanker. There may be a need for dry bulk ships.
He disclosed that the Company had signed a five year contract to transport polyethylene for Abu Dhabi Polymers Company (Borouge). 'But we are planning and researching transportation need for Borouge beyond 2010 when they increase production,' he said, noting that the current contract for 2005-2010 envisages usage of one ship on full time basis and second ship on part time.
In the first quarter of the year, the company transported 2,542,419 DWT of various products from lubricating oil, dry sulphur, polyethylene and rolling cargo.. Total cargo rose in 2004 to 10.8 million DWT from 9.6 million DWT in 2003. For the past several years, ADNATCO has been actively engaged in the bulk market, i.e. chartering and operating bulk tonnage from market for ADNOC's sulphur business. "Currently, trading has been in the Red Sea and Mediterranean area. However, expanding to the Chinese, Brazilian and South African markets is being explored," said Al Muhairi. (The Emirates News Agency, WAM)
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