Pilipinas Shell Petroleum Corp. (PSPC) and Islas Tankers Seatransport Corp. (ITSC) recently signed contracts for the time charter of the latter’s two double-hull tankers.
The agreements cover ITSC’s largest white oil tanker M/T Samal Island and its sole black oil carrier, M/T Mactan Island.
These double-hull tankers deliver petroleum products from PSPC’s refinery in Tabangao, Batangas, to their various terminals in the country. Both tanker vessels have an average age of only five years, giving PSPC the benefit of using young and modern, IACS [International Association of Classification Societies]-classed tanker vessels in their distribution process.
M/T Samal Island is a double-hull chemical tanker built in Korea in 2005, with deadweight of 5,555. It features 10 cargo oil tanks with individual cargo pumps, making the vessel flexible and versatile enough to carry up to five petroleum product grades at the same time.
M/T Mactan Island is a 4,055-deadweight double-hull tanker built in China in accordance with the International Maritime Organization’s Regulation 13 of Annex 1 of the MARPOL for tankers carrying heavy grade oils.
Islas Tankers Seatransport Corp. is a member of the Magsaysay Transport & Logistics Group.