Woqod buys bitumen tanker for $6m

Woqod buys bitumen tanker for $6m
Published: 26 November 2014 - 12:19 a.m.
By: ASC Staff

Qatar Fuel (Woqod) has purchased a bitumen tanker with modern specifications from China for $6m.

In a statement released yesterday Woqod said it the 2,512-cwt Sidra Al Wakra, built 2012 in China, is a double hull and double bottom tanker.

The vessel which has been registered in and hoisting the flag of Republic of Liberia, under a non-resident Liberian entity by the name of “ Sidra Al Wakra Shipping Company”, will join Woqod ships fleet by the end of this year 2014.

Woqod, Qatar’s largest fuel retailer, is currently supplying the Qatari local market with Bitumen in a routine way through two owned ships by the name of Sidra Al Wajba and Sidra Messaieed.

However, after Woqod signed a Memorandum of Understanding (MoU) last March 2014 with Public Works Authority (Ashgal), wherein the former committed to provide approximately 130,000 tonnes of bitumen and polymer modified bitumen for utilisation in Ashgal current and future infrastructure projects, particularly those projects under Ashgal five-year projects plan 2014 – 2019 –, Woqod managed to buy the aforesaid vessel for satisfaction of its obligations with Ashgal and its contractors, according to the statement.

Woqod’s top management prospects that the purchase of this new ship will contribute significantly in the increase of the capacity of its current Marine fleet, and upgrade the company’s capacity towards availing the required quantities of Bitumen to the local market and Ashghal requirements , the same contributing positively in achieving and completing the government projects in a timely manner.

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