BMZ Group, a company owned by Turkish President Recep Tayyip Erdoğan’s son Bilal alongside other family members, has added two product tankers to its fleet of five, local media informed.
The two ships, Armada Fair and Türkter 82, are said to be worth a total of USD 36 million and have been chartered to Istanbul-based Palmali Shipping on a 10-year contract.
With the most recent purchase the BMZ’s fleet comprises of five tankers.
The purchase comes just a few months after BMZ Group bought a third tanker Shovket Alekperova also for USD 18 million. The group plans to add ten second-hand product tankers to its fleet and has earmarked around USD 180 million for the purpose.
The switch to second-hand tankers came after BMZ decided to bin its newbuilding program at Turkey’s Yardımcı and Türkter shipyards.
World Maritime News Staff