STO oil tanker arrives in Maldives

Monday, October 26th, 2009

The 8200 ton huge tanker purchased by State Trading Organization (STO) has arrived in Maldives on Saturday carrying 7190 ton of oil.

According to STO, even if the oil taker has a capacity of 8200 ton, it can usually carry 7000-7500 ton of oil as the rest of the capacity will be carrying oil for travelling. STO says that this is the first tanker purchased by them to bring oil from abroad. Before this, STO had bought two small tankers but that was to transport oil within Maldives not outside.

The Managing Director of STO Shahid Ali said that a total of USD 5.6 million was spent on buying this oil tanker and half of the money came through a loan from a bank. He added that buying an oil tanks solves a lot of problems faced when an oil tanker is rented and that they will buy a second tanker depending on their experience with the first one.

From the 23 employees working on the tanker, 11 are locals and the rest are foreigners. STO hopes that soon all the worker on the tanker will be locals. Shahid further said that only very experienced people can work on oil tankers and so even providing opportunity for experience STO plans to employ as many Maldivians as possible.

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