SGX Mainboard-listed Chemoil, one of the world’s leading physical suppliers of marine fuel products, has chartered a second tanker to meet growing demand for its offshore fuel deliveries in the Gulf of Mexico. At nearly double the size of the operation’s original vessel, the MY Atlantic, the two tankers will work in tandem to significantly increase supplies at key locations including, but not limited to, Offshore Galveston, Texas and the Louisiana Offshore Oil Port (LOOP). Built in 2000, the 36,000 DWT tanker, named the Nordic Ruth is double-hulled and will be fully equipped to deliver marine fuels via Ship-to-Ship (STS) operations. Through operating both tankers with a combined capacity of over 50,000 DWT, the company will be able to undertake more voyages each month, increase available tonnage and ensure that there is always at least one vessel at sea to make deliveries. The Nordic Ruth will be operational in the second half of July 2008.
Adrian Tolson, Chemoil’s Vice President of Sales and Marketing commented: “When Chemoil Latin America launched operations in the Gulf of Mexico in August last year, it was a bold move as this service had not been offered in the region for over five years. The subsequent demand that Chemoil continues to receive demonstrates that operators of all types of tankers are keen to harness the economic and operational benefits of combining lightering and refueling activities in the same location. We are also seeing more of our customers take advantage of working with the one supplier at both ends of their voyage as they travel between the Gulf of Mexico and Arabian Gulf.
Tolson concluded: “Supplying marine fuels in the Gulf of Mexico has provided customers with an innovative alternative to making time consuming and costly voyage deviations to traditional supply locations in the Caribbean. In today’s climate of higher charter rates and soaring fuel costs, realizing efficiencies has never been more important to our clients. The business is progressing from its infancy and by strengthening our infrastructure now, Chemoil will be better able to support its customers and grow this market.”
Adrian Tolson, Chemoil’s Vice President of Sales and Marketing commented: “When Chemoil Latin America launched operations in the Gulf of Mexico in August last year, it was a bold move as this service had not been offered in the region for over five years. The subsequent demand that Chemoil continues to receive demonstrates that operators of all types of tankers are keen to harness the economic and operational benefits of combining lightering and refueling activities in the same location. We are also seeing more of our customers take advantage of working with the one supplier at both ends of their voyage as they travel between the Gulf of Mexico and Arabian Gulf.
Tolson concluded: “Supplying marine fuels in the Gulf of Mexico has provided customers with an innovative alternative to making time consuming and costly voyage deviations to traditional supply locations in the Caribbean. In today’s climate of higher charter rates and soaring fuel costs, realizing efficiencies has never been more important to our clients. The business is progressing from its infancy and by strengthening our infrastructure now, Chemoil will be better able to support its customers and grow this market.”