NEW TANKER FOR GROUP OF COMPANIES PALMALI LAUNCHED

Azerbaijan Business Center
Dec 24 2009

Baku, Fineko/abc.az. A new tanker constructed to order of group of
companies Palmali has been launched.

The Group reports that Turkish shipbuilding factory Celik Tekne
has launched tanker Khankendi fabricated to order of Palmali. This
tanker IMO-2 bears name of the central city of Nagorno Garabagh that
is under occupation by Armenia.

Palmali continues tradition of naming its vessels with names of heroes,
scientists and territories of Azerbaijan for familiarizing the world
public with them. The fact that tanker Khankendi was launched five
days before the 18-year anniversary of occupation of this territory is
not accident as well. Another two being-built tankers to be launched
in 2010 will be named Shusha and Khojali.

The newly-launched tanker with deadweight 14,000 tons, length of
142.98 m and width of 21.7 m is to ship chemical products. The ship
was fabricated in compliance with international conventions and
environmental standards.

The launching ceremony involved Palmali’s first vice president Marif
Mansimov and other executives and a large delegation, including reps
of Celik Tekne factory.

Palmali is a large shipping company transporting via internal and sea
routes of basins of the Mediterranean, Baltic, Caspian and Black Seas.

Besides, it is leader on carriages via internal water ways of Russia.

Quantity of vessels run by Palmali tops 120.

The Group ships mainly oil products (petrol, gasoline, vacuum gas oil,
fuel, and kerosene), oil and petroleum products, and industrial oils.

Palmali’s dry-cargo ships transport all types of dry cargo.