Angola’s Sonangol to merge its shipping companies.

29 May 2007

Luanda, Angola, 29 May – Angolan state oil company Sonangol is to merge its crude oil and fuel shipping companies into a single subsidiary company, media have reported.

Weekly newspaper Agora said Sonangol aimed to amalgamate the two shipping companies by 2008 to operate as a single unit in domestic and overseas transport of crude and oil derivatives.

Currently, Sonaship Ltd, created in 1999, is responsible for transport of fuels from the Luanda refinery to other ports in Angola, as well as the Democratic Republic of Congo and Sao Tome.

Sonangol Shipping, registered in the United States, is responsible for bulk shipping of crude in large tankers.

The merger of Sonangol’s fuel transport arms is also intended to coordinate two key business areas: overseas sales and ocean cargo transport. (macauhub)