Iraq to build two new oil tankers

Baghdad (IraqiNews.com) – The Iraqi Oil Tankers Company (IOTC) announced on Monday it is starting to build two new oil tankers and is moving towards building a gas tanker, according to the Iraqi News Agency (INA).

Director of IOTC, Ali Qais, told INA that IOTC is a government-owned company specialized in transporting crude oil and oil derivatives, founded in 1972, after the Iraqi government realized its economic importance to increase the country’s income from transporting crude oil across the seas with a national fleet, in addition to its importance for the integrated oil industry.

“IOTC owns 17 oil tankers of different tonnages in addition to four small tonnage tankers specialized in supplying tankers with fuel (bunkering tankers),” Qais clarified.

Qais elaborated that IOTC owns four tankers with a tonnage ranges between 10-13 thousand tons, and is currently building two tankers with a tonnage of 30 thousand tons.

Qais pointed out that the company’s vision is to continue working to achieve advanced steps in the field of transporting crude oil and oil products through the company’s aspiration to own a fleet of tankers with different tonnages.

IOTC director indicated that the company’s strategy is to continue owning tankers with different payloads to transport crude oil and oil products, to work on building liquefied petroleum gas (LPG) tankers, to expand the activity of ship fuel (bunkering), to proceed with obtaining any new certificates issued by maritime organizations, and to continuously train its maritime and administrative employees.