AD Ports Group, in collaboration with KMTF – Caspian Integrated Maritime Solutions, has acquired two specialized oil tankers, Liwa and Taraz, designed for the shallow draft of the Caspian Sea. The $35 million vessels feature inert gas systems for safety and compliance, serving as shuttle tankers to transport Kazakhstan's oil to Azerbaijan. This initiative, part of a joint venture announced in December 2022, aims to diversify oil transportation routes through the Caspian Sea, enhancing Kazakhstan's global trade footprint. The investment follows the acquisition of three Aframax tankers earlier in 2023, bringing the total under the KMTF agreement to five. The move aligns with AD Ports' commitment to advancing safety and security in the maritime industry, while KMTF sees it as a crucial step in creating alternative routes for transporting Kazakhstani oil to international markets.

SOURCE: GOOGLE