SOCAR Buys Seven Tankers from Palmali Shipping

Azerbaijan’s national oil company The State Oil Company of Azerbaijan Republic (SOCAR) has bought seven tankers from Turkish shipping firm Palmali Shipping, according to data provided by VesselsValue. 

The price of the seven ships, which encompass two Suezmaxes and five Aframaxes, was not disclosed.

SOCAR confirmed to World Maritime News that the company acquired the aforementioned ships, which were previously on time charter from Palmali to SOCAR. The company added that it “does not have ambition at the moment to acquire more assets.”

The vessels in question are Heydar Aliyev, Zarifa Aliyeva, Guneshli, Azerbaijan, Baku, Absheron and Shah Deniz. They were built at South Korean and Japanese shipyards between 2002 and 2010.

With the recent purchase, SOCAR plans to expand its transport capacity in the Mediterranean and Caspian Seas, local news site Azernews reported.

SOCAR has a permission to market oil produced at Azeri-Chirag-Guneshli field and other fields in Azerbaijan.

The oil company has a fleet of 30 vessels with a capacity ranging from 5,000 to 15,000 dwt.

World Maritime News Staff