At the beginning of 2018, as the operator of the Curaçao Refinery was unable to guarantee a steady supply of fuel products, Curoil saw itself at a crossroad that would change the company’s business model for years to come.
In order to guarantee the supply of fuel products for the local markets of Curaçao and Bonaire and also provide its international clients with the high quality products and reliable service they were accustomed to, in February 2018, the company expanded its fleet with an Aframax Tanker that carried the name of Red Majestic.
With a capacity of approximately 700,000 barrels, this 239-meter-long tanker was used as a floating storage for several fuel products. At the time, Red Majestic became the company’s largest vessel acquisition, giving Curoil the possibility to increase storage capacity and as such guarantee the availability of fuel products during a crucial time for the energy sector in Curaçao.
In 2019, after acquiring additional storage capacity through a leasing contract with the Curaçao refinery, the Red Majestic was sold.