AD Ports expands shipping operations in Kazakhstan

AD Ports expands shipping operations in Kazakhstan

AD Ports Group (AD Ports) in collaboration with KazMorTransFlot (KMTF), Kazakhstan’s national shipping company, has announced the launch of two vessels designed to transport oil across the Caspian Sea.

The two oil tankers were named Liwa and Taraz, after ancient cities in the UAE and Kazakhstan, respectively, and were acquired as part of AD Ports Group’s joint venture with KMTF – Caspian Integrated Maritime Solutions (CIMS), which was announced in December 2022, to provide offshore and shipping services for commodity exporters in the Caspian.

The two vessels reportedly cost a total of $35 million and were designed expressly for the Caspian’s shallow draft, with features that match the demanding criteria of multinational oil firms.

The vessels are also equipped with inert gas systems, a crucial step in ensuring safety and compliance with modern standards.

READ: AD Ports obtains 10 offshore vessels for $200 million

Operating along the strategic route across the Caspian Sea, the vessels will serve as shuttle tankers, undertaking consecutive voyages to move Kazakhstan’s oil to Azerbaijan.

AD Ports noted that this service contributes to the diversification of the transportation routes for oil for onward delivery to the world through the Mediterranean or Black Sea, improving Kazakhstan’s global trade footprint. 

This latest investment brings the total number of oil tankers operating under the KMTF agreement to five, following the acquisition of three Aframax tankers earlier in 2023.

READ: AD Ports integrates RightShip’s emissions tool

Capt. Ammar Mubarak Al Shaiba CEO – Maritime & Shipping Cluster, AD Ports Group, said: “As we expand our footprint into shipping and global networks, we are not only ensuring the safe and efficient transport of Kazakhstan’s oil but also setting a precedent to guide safety and security advances in the maritime industry.”

Aidar Orzhanov, General Director of KMTF, stated: “We are implementing this project together with our strategic partner AD Ports Group in accordance with the task of the President of the Republic of Kazakhstan K.K.Tokayev, to create alternative routes for transportation of Kazakhstani oil.

“This will allow us to efficiently, and safely transport Kazakhstani oil in Caspian Sea for further shipment to international markets. We believe that this is only the first step of our long-term cooperation with AD Ports Group.”

This month, AD Ports Group announced its financial results for the third quarter of 2023, reporting a revenue growth of 189 per cent year-on-year (YoY) to AED 4.24 billion ($1.15 billion).

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