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DMEA TERMINALS & SHIPPING DMEA

Sonangol orders two

Suezmax tankers from HSHI

AFRICA ANGOLA’S national oil company (NOC) Angolan oil exports
Sonangol has ordered two Suezmax-size oil In related news, Angola’s government revealed
tankers from Hyundai Samho Heavy Industries last week that the country had seen oil exports
(HSHI). sink year on year in the first quarter of 2021.
According to a report from the national press Newly released data show that Angola
agency ANGOP, Sonangol intends to buy two exported 1.87mn barrels per day (bpd) on
DWT 158,000 tankers, each capable of carrying average between January and March, down by
about 1mn barrels of crude. HSHI is slated to 17.42% on the figure recorded in the same period
deliver the first vessel in the first quarter of 2023 of last year.
and the second in the second quarter of the same Alexandre Garreto, the director of the Petro-
year, the agency said. leum Ministry’s Department of Studies, Planning
NOC’s tanker fleet currently includes nine and Statistics, noted that 18.2% of the volumes
ships. The NOC placed the order with HSHI in exported in the first quarter had belonged to
order to replace ageing vessels that are nearing Sonangol.
the end of their service life. Angola’s National Oil, Gas and Biofuels
ANGOP did not reveal the value of Sonan- Agency (ANPG), which acts as concessionaire
gol’s deal with HSHI, which is a unit of Korea for the country’s oil and gas resources, accounted
Shipbuilding and Offshore Engineering for another 25.89% of the total, he added. Total
(KSOE). However, it did note that the company (France) had 11.81%, ExxonMobil (US) 9.71%,
was using its own funds to finance the order. BP (UK) 8.66%, Sinopec (China) 7.65% and
Meanwhile, KSOE reported in a separate stock Chevron 6.74%, he added.
exchange filing that the NOC had agreed to pay Garreto also noted that China had been the
KRW153.1bn ($135.9mn) for the tankers. main destination for Angolan oil exports in the
Sonangol is buying the tankers within the first quarter, accounting for 70.14% of all ship-
framework of its plan to acquire a fleet of Suez- ments. Another 8.61% of the total went to India,
max tankers with an operating life of 20 years. with Singapore absorbing 4.85%, France 1.01%,
The plan is designed to help the company save and Italy 0.97%, he stated.
money by giving it the ability to deliver oil He also noted that Angolan oil exports had
directly to buyers, without the need to charter commanded an average price of $61.68 per bar-
tankers from third-party shipping companies. rel in the January-June period.™

P14 www. NEWSBASE .com Week 20 20•May•2021