Island Oil Expands Fleet with Two Tankers
Island Oil has acquired two oil tankers, Island Polaris and Island Horizon, expanding its owned fleet and marine logistics capacity.
The acquisitions form part of the company's long-term investment strategy to strengthen logistics capabilities and support demand for marine fuel transportation across the Mediterranean and Black Sea.
The two vessels are double-hull tankers and will increase Island Oil's transportation capacity while supporting service reliability across its network of physical supply locations and international trading activities.
Island Oil said the addition of new tonnage is also aligned with its environmental, social and governance strategy and decarbonisation roadmap, with the vessels enhancing fuel efficiency and lowering greenhouse gas emissions per tonne-mile.
"The acquisition of Island Polaris and Island Horizon represents another important step in the execution of our long-term growth strategy. Investing in modern, efficient vessels enables us to strengthen our operational capabilities, improve service reliability and continue supporting our customers with safe and dependable marine fuel solutions.
“These additions also demonstrate our confidence in the future of the maritime sector and our commitment to delivering sustainable value to our stakeholders," said Chrysostomos Papavassiliou, CEO & Chairman of the Board of Directors of Island Oil.
The vessels will support Island Oil's expanding marine logistics operations and activities across its physical supply network and international trading business.
