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Two brand new tankers will soon be shipping petroleum products around the New Zealand coast. The new vessels will be chartered by Coastal Oil Logistics Limited (COLL) which transports petroleum products from Marsden Point Refinery to New Zealand’s ports on behalf of its shareholders BP Oil NZ , Chevron NZ, Mobil Oil NZ and Z Energy Ltd. The new-build vessels will replace COLL’s current tankers, the Torea and Kakariki. The Torea’s replacement, a 50,000 dwt products tanker, is due to arrive in February 2016. The Kakariki replacement, a 50,000dwt products/bitumen tanker, will be owned by ASP Ship Management Group (ASP) and will begin service in June 2017. COLL chief executive, Jon Kelly, says the new vessels will be substantially more fuel efficient than the older vessels they replace, resulting in a reduction in emissions. The new vessels will be time chartered into COLL from Silver Fern Shipping Limited, the New Zealand subsidiary of ASP Ship Management Group. Both vessels will be built at SPP, South Korea.