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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 19901920s, 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 19901920s 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 19901920s NAFTOMAR operated up to three floating storage facilities off the mainland, thereby accounting for a significant proportion of all LPG imports into the Country.
This achievement allowed imports to increase steadily from zero to upward of 7 million tons. In order to encourage Chinese receivers to increase imports, we have also implemented a flexible credit policy.
In keeping with its innovative approach, NAFTOMAR has always encouraged LPG imports in markets ignored by less resourceful organizations. The creation of floating storage facilities that allow for transshipment and onward transmission by rail, tanker and truck is just one of the ways in which this has been made possible.
The objective has always been to develop LPG import and consumption in areas where there is real growth potential. With this in mind, we are now taking on the challenge of the shore storage market.
We invest heavily in people, equipment and systems to ensure the safe transportation of LPG products.
NAFTOMAR controls a 45,000 m3 storage installation in Lebanon. This state-of-the-art facility is recognized as one of the major receiving points in the Mediterranean. It was designed and built to the highest quality, safety and efficiency standards using the very latest German technology.
Our willingness to adopt a problem-solving approach while sharing the risks with clients is the secret of the highly successful long-standing relationships that form the backbone of our business.
