Azerbaijan, Baku, 2 April / Trend / The Palmali group of companies, owning one of the world's five largest fleets, is completing the negotiations with the one of the largest hotel managing companies on management of the hotel, which Palmali intends to construct in Turkey, Palmali reported but did not divulge the name of the company with which is it is currently negotiating.
Earlier Palmali purchased a building in Istanbul from HSBC for $60mln, which will be re-constructed into a first class hotel.
Palmali, a large shipping company, mainly specializes in the transportation of oil products (petrol, gasoline, vacuum gasoline, stove fuel, and kerosene), crude oil, food, and industrial lubricants. Furthermore, the company has its own dry cargo fleet, which is used in the transportation of all types of dry cargo.
Palmali is involved in cargo deliveries in the Mediterranean, Caspian and Black Sea Basin. It is the largest company involved in transportation in Russian internal waters with a fleet comprising over 129 owned and leased vessels.