Krew Investments forges strategic alliance with Nigerian oil carrier

Apr 14, 2005 02:00 AM

Krew Investments, a black economic empowerment company based in Cape Town, had forged a strategic alliance with Pedmacgrek Shipping and Trading, a Nigerian company with interests in maritime and logistics support services, Krew CEO Noor Kapdi said.
Pedmacgrek, a major joint venture partner of the Nigerian National Petroleum Corporation, specialises in the tanker transportation, bunkering and international trading of petroleum products. It owns and operates several vessels ranging from bunkering vessels to large product tankers.

Kapdi said the deal would strengthen ties between South Africa and Nigeria, and provide access to the key west African oil and gas industry for multinationals eager to do business in the region.
Krew Investments, which provides shipping, logistics and offshore services through its wholly owned Krew Marine subsidiary, was started three and a half years ago. Its founders were Tony Ruiters, a brother of former trade and industry director-general Alistair Ruiters and a former CEO of African Harvest, and Rustum Omar, a former director at African Harvest Fund Managers who saw business opportunities in the oil industry.

Kapdi said the two companies would provide services to companies operating throughout the oil and gas industry, from downstream to deep offshore operations. Related services would include the supply of anchor handling tugs.
Michael Anyiam-Osigwe, the operations director at Pedmacgrek, said the agreement would have significant benefits for both parties. Kapdi said Krew planned to open an office in Lagos. West and South Africans would be trained in specialist marine operations.

Source: Business Report & Independent Online
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