Oil & Gas

Sonangol lines up additional Suezmax for 2023 delivery

Sonangol has begun building a second oil tanker, following an oil cutting ceremony in South Korea on November 28.

The Angop news agency reported Hyundai Samho Heavy Industries (HSHI) was building the Suezmax vessel. It should be ready in September 2023.

The tanker will have capacity to transport 1 million barrels of oil. It will be 274.8 metres long, 48 metres wide and 23 metres high. Currently, the vessel is known as hull 8021.

Sonangol trading and shipping unit chairman Luis Manuel visted the city of Mokpo this week to attend the ceremony.

The Angolan company ordered two Suezmax tankers in April 2021, for around $137 million. At that point, the Korean company expected to deliver the two by December 2023.

Angop reported earlier in November that the first of these tankers would be ready in March 2023 and the second in September.

Sonangol works with Stena Bulk in a joint venture to oversee its tanker needs. There are 21 ships in the Stena Sonangol pool.

Construction of new tankers has been sluggish this year, amid concerns around over capacity and high prices.

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