An AD Ports Group and KazMorTransFlot (KMTF) JV has acquired two new oil tankers for the transport of Kazakh oil across the Caspian Sea to Azerbaijan, according to a press release. The two vessels represent a USD 35 mn investment and join a further three Aframax tankers acquired earlier this year and operate by the JV, dubbed Caspian Integrated Maritime Solutions (CIMS), which provides offshore and shipping services for exporters in the Caspian Sea, the statement said.

Lila + Taraz will move oil between Kazakhstan and Azerbaijan: The two tankers were named Lila and Taraz at a naming ceremony in Aktau, Kazakhstan, the statement said. The vessels’ design is specially tailored for the Caspian Sea’s shallow draft and equipped with an inert gas system which yields a significant upgrade in terms of safety. The new service is set to diversify oil transport routes in the region and contribute to boosting Kazakhstan’s trade footprint, the statement said.

Background:Late 2022 saw AD Ports and KMTF ink a shareholder agreement kicking off a joint venture that is 51% owned by AD Ports and 49% owned by KMTF to provide shipping services for energy players in the Caspian Sea. May saw the Abu Dhabi-based port operator announce the purchase of three tankers worth AED 496 mn for operation with KMTF under the JV framework.

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