A new Middle East tanker player with a strong appetite for building a fleet of VLCCs aims to take advantage of what it expects to be a period of market rebalancing.
Iraqi Oil Tankers Co (IOTC) has teamed up with Arab Maritime Petroleum Transport Co (AMPTC) to form Al-Iraqia Shipping Services & Oil Trading (AISSOT).
Ahmed Said, deputy chief executive of AISSOT, says the joint venture will use some of its shareholders’ existing ships but will also be active in acquiring tonnage.
