Chemical tanker operator Team Tankers International on Tuesday (17 March) entered into strategic arrangements with Maersk Tankers and joint venture with V.Group, both commencing 1 April.
Maersk Tankers will take over the commercial management of 27 tankers from Team Tankers International, and establish two new pools.
As part of the agreement, employees within Operations, Chartering and Bunker Management will transfer from Team Tankers International to Maersk Tankers’ offices in Copenhagen, Houston and Singapore.
“The cooperation is a further step towards building scale for our tanker fleet,” says Hans Feringa, President & CEO at Team Tankers International.
“We believe the timing of the cooperation is good as the medium and longer-term outlook for the product and chemical tanker market is positive, and the order book is at a historically low level. We look forward to working with Maersk Tankers to achieve both companies’ goals.”
Out of the 27 tankers, nine are 13,000-tonners, four are Flexis (25,000 DWT) and 14 are MR tankers (46-49,000 DWT).
By taking over the vessels, Maersk Tankers enters two new segments, in which it establishes two new pools. This allows the company to serve customers with greater flexibility, while expanding its products to pool partners.
“The cooperation between Team Tankers International and Maersk Tankers is powerful, and we look forward to welcoming our new colleagues,” says Claus Gronborg, Chief Investment Officer, Maersk Tankers.
“With this, we are taking yet another step to deliver our strategy of building scale through partnerships forged by the common goal of using digitisation to reduce CO2 emissions and increase partner returns. The growth in capacity means we can offer our customers additional flexibility in transporting their cargoes and improve our returns to existing and new pool partners.”
The joint venture agreement with ship management specialist V.Group will see Team Tankers International owning 30% and V.Group 70% of the JV company Dania Ship Management AS Denmark, which will continue to be based in Copenhagen, although additional parties may join in the future.
Following, Team Tankers International will transfer its in-house managed fleet, consisting of ten MRs and two 25k coated vessels, to the JV, along with its on shore technical organization and seafaring expertise.
Team already has 21 ships with V.Group for technical management.
Photo credit: Team Tankers International
Published: 18 March, 2020
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