The Egyptian Tanker Company (ETC) is an Egyptian joint-stock, free-zone company that specializes in providing local and global marine transport services to companies and entities working in the field of exporting and importing crude petroleum and its derivatives across Egyptian and international ports.

The company was founded in 2006 with authorized capital of USD 150 million and USD 50 million in paid-in capital, and seeks a leading market share in the promising crude oil and petroleum transportation sector in Egypt while maintaining a considerable presence in the sector’s international market. EKH currently holds a 30% stake in ETC, which it acquired upon establishment in 2006.

ETC’s fleet is technically managed by Thome Ship Management, an external Singapore-based integrated ship management firm with leading industry accreditations including OHSAS 18001:2007, OHSAS 18001:1999, ISO 9001:2008, ISO 9001:2000, ISMA, ISO 9002 and others.

ETC acquires, charters and operates a wide variety of ships, in particular petroleum carriers, while also running activities of shipping agencies, providing all services complementary and correlated to this industry. In 2011, ETC acquired a new tanker named ETC Isis, bringing its fleet of vessels to three tankers alongside ETC Ramsis and ETC Nefertari, which were acquired in 2010, all of which have a combined capacity of 250,000 tons.

The recent downturn in oil prices has seen traders increasingly revert to storing oil to lock in profits. As a result, ETC’s three vessels have been increasingly utilized for floating storage, causing its revenues to grow more than five-fold in the H1 2015 compared to the same period last year.