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Insight

PEMEX Oil Tanker Fleet Strategy

Wed, 01/25/2012 - 14:16

Pemex officially started its fleet renewal process in January 2008 by publishing an international public tender for the rental of up to five tankers with an option to buy them. The oil company announced in May 2008 that it had awarded two rental contracts for four tankers over a 10-year period. Blue Marine Shipping and F. Tapias Group were the two companies that won the contracts to provide the tankers. A year later, in May 2009, Pemex continued Pemex Refining’s fleet renewal process by renting a double hull tanker for five years from Grupo TMM’s Maritime Division without the buying option.

Subsequently, Pemex changed its strategy and asked companies to participate in a public tender for the acquisition of up to five tankers. The company had received six propositions in 2010, but decided to annul the tender, as it was unsatisfied by the offers. After a subsequent national and international market study, Pemex Refining finally decided to buy a tanker in 2011. The “Ocean Cygnet” double hull tanker, built in 2010, at a cost of US$39 million, was named “Centenario”. Pemex subsequently announced a new market study with the goal of acquiring further tankers. In February 2012, Juan José Suárez Coppel, CEO of Pemex, announced that the acquisition of six tankers in 2011 by the NOC had resulted in a saving of US$38 million in comparison to renting the same vessels.