A leading indigenous petroleum products marketing company, Rainoil Limited, has inaugurated its two newly-acquired multi-million dollars oil vessels, MT Adeline and MT Emmanuel, aimed at boosting petroleum products' availability and distribution in the country.
MT Adeline is a 20,000-tonnage vessel while the carrying capacity of MT Emmanuel is 15,000-tonnage. Both vessels are world-class facilities and they meet international standards that enable them suitable for quick Ship -To-Ship (STS) loading of petroleum products from one vessel to another.
A leading indigenous petroleum products marketing company, Rainoil Limited, has inaugurated its two newly-acquired multi-million dollars oil vessels, MT Adeline and MT Emmanuel, aimed at boosting petroleum products' availability and distribution in the country.
MT Adeline is a 20,000-tonnage vessel while the carrying capacity of MT Emmanuel is 15,000-tonnage. Both vessels are world-class facilities and they meet international standards that enable them suitable for quick Ship -To-Ship (STS) loading of petroleum products from one vessel to another.
Inaugurating the two vessels recently, at the Rainoil Jetty and multi-product Tank Farm in Oghara, Delta State, the Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), Mr. Reginald Stanley, said the investment was a significant milestone and a big boost to the nation's economy in the areas of foreign exchange conservation, reduction in the cost of freight of petroleum products, employment opportunities and speedy distribution of products across the country.
"Although Rainoil is a big player in the Premium Motor Spirit (PMS) to the nation, these vessels will provide an excellent logistic to other players in the downstream.
"I, therefore, urge other marketers to use the services of these vessels, so as to optimise its utilisation, thereby reducing the unit cost of freight. There is also the need to patronise our local fender providers in STS (Ship-To-Ship) operations, so as to build a strong synergy in shipping operations. A situation where foreign fender providers dominate the market should be discouraged," he said.
Stanley noted that the addition of MT Adeline and MT Emmanuel to the maritime component of oil and gas operation was another big plus for the country because, apart from being world-class facilities, they met stringent vetting standard of multinational majors, qualified for STS operation as well as environment-friendly.
"They are double hulled as against the single hull vessels plying our waters. When compared with the 'rust buckets' called ships in our waters, these vessels can only be described as the 'Rolls Royce' of the trade," he said.
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