Deal Struck for First South African-Owned Chemical Tanker
Nduna Maritime and Sasol have invested in South Africa's first locally-owned chemical tanker with a funding agreement made through the Sasol Siyakha Trust. The Bow Cecil is claimed to be the first South Africa flagged vessel to transport chemicals to international markets.
The vessel currently handles outbound shipments of chemicals into South East Asia, the Middle East, and Europe for Sasol and other companies.
"We are particularly proud of this landmark agreement, as it is a significant investment into localizing and diversifying our supply chain," said Vuyo Kahla, Executive Vice President: Advisory, Assurance and Supply Chain, Sasol Limited. Sasol spends approximately R1.8 billion ($118 million) a year on shipping from South Africa to global markets.
"Sasol, as a company proudly rooted in our South African heritage, is committed to making a significant contribution to South Africa's economic transformation. We believe that, through enabling players to participate in our value chain, we catalyze further economic growth," said Kahla.
In April 2019, Sasol officially opened another colliery in the province of Mpumalanga, where it makes coal into high value fuel and chemical products. Meaning “success” in Nguni, Impumelelo is one of three world-class mines Sasol has constructed in the last decade as part of its mine replacement program and includes Thubelisha and Shondoni. Impumelelo has the capacity to produce 10.5 million tons per annum and is part of Sasol's plans to secure coal for its Sasol Secunda Synfuels Operations up to at least 2050.
Sasol’s mining business is the third largest producer of coal in South Africa with an output of some 40 million tons per annum. The business contributes 13 percent to Sasol’s earnings.