Tanker Newbuilding Duo Ordered for New Zealand Operations

Two brand new 50,000 dwt tankers will soon be shipping petroleum products around the New Zealand coast, according to the Australian third party ship manager ASP Ship Management Group (ASP).

The new vessels will be chartered by Coastal Oil Logistics Limited (COLL) which transports petroleum products from Refining NZ at Marsden Point to New Zealand’s ports on behalf of its shareholders BP Oil New Zealand Limited, Chevron New Zealand, Mobil Oil New Zealand Limited and Z Energy Limited.

The newbuilding vessels will replace COLL’s current tankers, the Torea and Kakariki, which have been in service by COLL for eight and 17 years respectively.

The Torea’s replacement, a 50,000 dwt products tanker, is due to arrive in February 2016. The Kakariki replacement, a 50,000 dwt products/bitumen tanker, will be owned by ASP and will begin service in June 2017.

Both tankers will be constructed at SPP Ship Building yard in Sacheon, South Korea.

COLL chief executive, Jon Kelly, said the new vessels, which are yet to be named, will position COLL well to meet its shareholders future shipping needs in New Zealand.

“This will be the most modern fleet of New Zealand operated vessels on our coast,” Kelly said. “They will be substantially more fuel efficient than the older vessels they replace, and there will be a large reduction in emissions as a result of that efficiency.”

The new vessels will be time chartered into COLL from Silver Fern Shipping Limited, the New Zealand subsidiary of ASP.

”ASP understands well the importance of the coastal petroleum distribution task to New Zealand and is pleased to provide these long term vessels for COLL and its shareholders and to continue our long standing relationship,” CEO of ASP Ship Management Group, David Borcoski, said

”With the added capacities, eco design and enhanced fuel efficiencies, these high quality vessels bring a highly efficient shipping solution for COLL.”

The Kakariki and Torea will be returned to their owners at the end of their current time charter to COLL.