Ocean Tankers turns on the tap to help the island of Cyprus



Cypriot small to medium-size tanker owner and manager Ocean Tankers has been asked by the Nicosia government to come up with an innovative plan to solve the country’s ongoing water crisis by shipping water from Greece to Cyprus.

The company, which owns 16 vessels, including two newbuildings and three second hand vessels soon-to-be-delivered, is one of a number of companies which have tendered for the ambitious shipping contract which in the short term could last for six months to overcome the current drastic problem but which could be extended to five to ten years to really solve Cyprus’ water shortage problems.

George Ioannides, Vice President of Ocean Tankers, told SMI that he would look to charter in, with an option to buy, aframax or panamax tonnage (70,000dwt to 100,000 dwt).

“Because water is not a threat to the environment, we can use single hulled tankers. We would charter them in with an option to buy,” he said.

The government is expected to make a decision by the middle of April.

“I don’t want to sound too optimistic but my father Michael Ioannides, has been trying to find a solution to this problem since 1998 and he has tried year-on-year to pressurise the government into transporting water by tanker. We think the pressure may have worked which is why they have gone out for offers,” he added