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Iraq`s Al-Iraqia Shipping Services &. Oil Trading plans to grow its shipping fleet amid expectations of increasing crude oil deliveries from the country. AISSOT`s Director for Bunkering Praveen Jaiswal said on Tuesday.
`As Iraq is poised to increase crude oil deliveries. AISSOT is ready to deliver as high as 20 million barrels of crude oil per month to customers on a delivered basis.` Jaiswal said. Since its inception. AISSOT has already transported more than 26 million barrels of crude oil from the Basrah Oil Terminal to Egypt. the US Gulf and northern Europe and another 6 million barrels from the US Gulf and northern Europe to China and South Korea. he added.
The company currently delivers about 6 million barrels of crude oil per month. Jaiswal said.
AISSOT operates seven modern VLCCs and two floating storage units. It has already formalized the delivery of 20 newbuilds by 2019 and an additional 10 each by 2020 and 2021 from Japanese and South Korean shipyards. he added.
The company planned to install scrubbers on its newbuilds to comply with the International Maritime Organization`s global sulfur limit from 2020. Jaiswal said.
The IMO will cap sulfur in marine fuels at 0.5% worldwide from January 1. 2020. compared with 3.5% currently. This applies outside the designated emission control areas where the limit is already 0.1%.
AISSOT`s bunker sales were also expected to rise. Jaiswal said.
Earlier. he had said that the company was on track to increase its bunker sales to 200.000 mt month across Basra. Khor Al-Zubair and Umm Qasr in the next two years.
AISSOT planned to start berth supplies at Umm Qasr Port this month. Jaiswal said. adding that this would cater to the needs of containers and bulkers.
AISSOT had three bunker barges. Jaiswal said.
Formed in June 2017. AISSOT is a joint venture between Iraqi Oil Tankers Company and Arab Maritime Petroleum Transport Company.
AMPTC is owned by members of the Organization of Arab Petroleum Exporting Countries. IOTC is an Iraqi government-owned company. which owns and manages tankers transporting refined petroleum products.
