Shipping Lines – GNMTC announces its 2020-2023 modernization plan, ship auction – 26.12.2019

Libya’s state sea transport company, the General National Maritime Transport Company (GNMTC), on Thursday 26th December, 2019 announced her 2020-2023 development plan.

The company said the plan involves modernising her maritime fleet, which is constituted of 22 vessels, over the next four years. It reported that the first phase of this plan is the sale of its ageing vessels – 2002 built aframax crude oil tanker INTISAR former AEGEAN SPIRIT

The 2002 built crude oil aframax tanker EBN BATUTA former GOLDEN STAR and CHIOS SPIRIT –

The 2002 built crude oil aframax tanker EL GURDABIA former IONIAN SPIRIT –

EL GURDABIA anchored OPL Malta – 17.03.2011

Also the 2011 built Capesize bulker JABAL NAFUSA of which will be replaced with newer vessels with ‘‘modern specifications’’.In fact the company announced an auction for the above named four vessels which closes on 26th January 2020. The GNMTC added that it will sell other ageing vessels and buy some other new ones every year over the next four years – as part of its modernisation plan.

The company said that its modernisation policy is based on:

  1. The need to diversify its sources of income;
  2. A policy of replacing oil tankers that are over 15 years of age, especially with regard to crude oil tankers in accordance with the policy of preserving assets;
  3. Replacing ships that have not achieved positive operating returns over a long period of time for technical or operational reasons in line with the preservation of the company’s funds.
  4. Being competitive in the shipping market through the acquisition of new and economically viable vessels.

Photos by Capt. Lawrence Dalli. Do not use these images without my permission. © All rights reserved. Malta Ship Photos & Action Photos –

Published – Sunday 5th January 2020