EMEA News
AISSOT Expands Bunkering Operations to Suez, Egyptian Territorial Waters
Al-Iraqia Shipping Services & Oil Trading (AISSOT) has expanded its bunkering operations, having obtained a licence to operate in Suez Canal / Egyptian Territorial Waters.
The supplier says it has partnered with local Egyptian player OMS Energy, who in turn have been authorized by Egypt Ministry of Oil company Nile Petroleum, to commence physical bunker supplies at SUMED berth and within Egyptian waters.
AISSOT will handle the entire supply chain logistics and marketing of bunker fuels under the arrangement, it says.
"AISSOT has already mobilized bunker barges and a floating storage and expect to commence physical supplies of RMG 2010 specifications and Low Sulphur Gasoil by the end September 2018," the company said in a statement released today.
As for the market's potential, AISSOT notes some 1,200 ships cross the Suez Canal every month.
And with most vessels experiencing a natural waiting period of 12 to 18 hours prior to crossing, the supplier sees this as a good opportunity for the ships to bunker.
"Currently vessels transiting Suez Canal struggle to obtain bunker fuels at a competitive price in the region. Long haul ships must divert to nearby ports to obtain bunkers that too at very high prices," said AISSOT.
"At times long haul ships carry huge quantity of bunkers thereby reducing their freight earning tonnage. With availability of bunkers at Suez, shipowners can maximize cargo and top-up at Suez on their onward voyage."
AISSOT launched its bunker operations last year with an initial focus on the Iraqi ports of Basra, Khor Al-Zubair and Umm Qasr.
