When NAFTOMAR purchased 40,000 metric tons cargo aboard the LPG/C Northern Eagle in 1980, it opened a new chapter in the history of floating storage. Since that time, we have refined the concept on behalf of our clients, enabling them to resolve product shortages; address the problems associated with longer voyages, and gain access to new sources of supply. In addition to these benefits, floating storage has also proved invaluable in dealing with price fluctuations.
Today, our expertise in ship-to-ship cargo transfer operations is unrivalled. Indeed, since the beginning of the 1990’s, more than 4,000 transactions have been safely carried out, with more than 10 million tones of product transshipped.
The scope of our business then extended even further afield to embrace the trading of petrochemical gases including Ethylene, Propylene and Crude C4. This move further strengthened our relations with the specialized industries involved.
During the 1990’s we took the lead in developing very large Gas Carriers (VLGC) activities in the Far East. Controlling a significant number of these vessels means that we have been since recognized as one of the largest independent ship operators in the region.
In addition to pioneering imports into Pakistan and Syria, we were also instrumental in encouraging LPG imports into China. During the mid 1990’s NAFTOMAR operated up to three floating storage facilities off the mainland, thereby accounting for a significant proportion of all LPG imports into the Country.