Market Intelligence
Iraqi Oil Tankers Co. Seeks Fleet Acquisition to Expand Shipments Beyond Hormuz
Iraqi Oil Tankers Co. plans to buy crude carriers to transport oil beyond the Strait of Hormuz rather than transferring shipments at Basrah.
Iraqi Oil Tankers Co. is working to purchase and own crude oil vessels to directly manage its maritime exports, according to state media reports.
The acquisition strategy aims to enable the enterprise to transport crude past the Strait of Hormuz instead of offloading cargoes to commercial buyers at the port of Basrah.
The initiative was outlined by Ali Qais, the director general of Iraqi Oil Tankers Co., in remarks reported by the state-run Iraqi News Agency.
Source attribution
Iraq seeks to buy crude oil tankers to handle shipments beyond Strait of Hormuz: INAGlobal Freight Briefing
The commodity and freight brief, twice weekly
Concise coverage of fuel oil, energy trading and shipping markets for professional readers. No promotional content.