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Petroleum Shipping Industry in OAPEC Countries:
Present and Future
The petroleum shipping industry attracts
great attention in terms of Arab and international
economies due to its vital role in the movement of
oil, petroleum products, and natural gas supplies
from exporting ports to importing ports around
the globe. More than two thirds of the world’s
petroleum supplies are transported through giant
and large tankers, which start their journeys
from exporting ports in producing countries to
importing countries’ ports.
The industry’s importance increases in
OAPEC member countries due to their leading
status in the world’s petroleum industry on
the one hand, and the important geographical
position of some member countries overlooking
some strategic international waterways on the
other hand. Recorded data show that oil tankers
have claimed more than half of the total trade
fleet in the Arab countries in 2015 with tankers
whose total load reached 8431.5 thousand tons;
most of which from OAPEC members.
Many member countries have taken the
initiative since long decades to establish national
petroleum and gas tankers and navigational
services companies, and build ports according
to approved international standards. Also,
within the framework of the joint Arab action,
they established the Arab Maritime Petroleum
Transport Company (AMPTC) in 1972; its
headquarters in Kuwait. It is the first of all
OAPEC joint ventures. Its purpose is to handle
all operations related to the marine transportation
of hydrocarbons. The company’s fleet currently
consists of crude oil, clean petroleum products,
and LNG tankers. In the same vein, the Arab
Shipbuilding and Repair Yard Company (ASRY)
was established in 1973; its headquarters in
EDITORIAL