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SEYPEC will be selling its four vessels in a phased approach and undertaking arrangements to purchase two new ones.
The Seychelles Petroleum Company (SEYPEC) will replace two of its four medium-range tankers with new and more advanced ships in the coming years, said a top official.
This follows the approval by the Cabinet of Ministers of the SEYPEC’s strategic plan to replace its aging tanker fleet with new, technologically advanced vessels. The SEYPEC chief executive, Sarah Romain, said that SEYPEC will be selling its four vessels in a phased approach and undertaking arrangements to purchase two new ones.
She explained that older vessels are less reliable, burn more fuel, have a higher operational cost, and have a higher carbon footprint which means that by getting newer tankers, our operations will be more profitable.
Romain explained that the four tankers would be sold in phases. The Seychelles Pioneer will be disposed of this year, followed by Seychelles Progress in January 2025, while the other two, Seychelles Prelude and Seychelles Patriot, will be replaced by December 2026.
Romain said that with current EU regulations, the tankers are fined for their emissions, which can potentially reach up to $2 million per vessel.
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SEYPEC’s tankers are currently managed by German Tanker Ship (GTS), which is the ship management company that employs staff, looks for contracts, and maintains the ships. The tankers are added to the pool of tankers owned by GTS to provide a broad platform for career opportunities and progression for the Seychellois seafarers
