Shipping Activities

Chartering of Vessels  

During 2002, in addition to chartering its own fleet to Sonatrach, SPC (BVI) made a number of fixtures on ‘Time Charter’ and Spot’. Thirteen (13) vessels were chartered for periods between 6 to 12 months in order to enable Sonatrach to satisfy its contractual obligations with some of its partners.

In addition to the vessels on ‘Time Charter’, thirty-five (35) vessels have been chartered on a ‘SPOT’ basis.

Similarly, to transport Liquid products for the Algerian market, SPC (BVI) chartered four (4) vessels.

 Own Fleet:

The fleet of LPG carriers owned by SPC (BVI) is managed in the most professional way in order to achieve a high level of availability of each vessel, the reliability of which has been demonstrated over the years.

All the vessels have approvals from all major oil companies to support the sales of LPG of both SPC (BVI) and Sonatrach.

In accordance with the recommendation of the board of SPC (BVI), an agreement has been reached with SNTM-Hyproc for the ‘bare boat’ chartering of the LPG vessel ’Jemila’ for the duration of five (5) years starting in 2003.

At the end of October 2004 we sold one of our vessels NEJMA to Solvang and replaced it for a 5 year period with a new building of 59,000cbm at an extremely attractive T/C rate of hire.