GNMTC Fleet Up For Sale As Rebels Seize Another Tanker

The Qadhafi regime is reported to be looking for buyers for its tanker fleet. The strategy is understandable as two vessels connected to the regime have now been seized by rebel forces. CFW would, however, caution any potential investors about the problems they are likely to face if they purchase a vessel from a company linked to the Qadhafi regime. Despite the fact that Libya's General National Maritime Transportation Company (GNMTC) is not subject to sanctions itself, it is connected to blacklisted Hannibal Qadhafi and questions may be raised as to the exact ownership of the fleet.

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