European Tanker Companies Pool Together

Wednesday, April 18, 2001
Danish shipping companies Maersk Tankers, owned by shipping and oil group A.P. Moeller, and D/S Torm said on Wednesday they had established a new product tanker pool with two other international shipping lines.

The pool, named LR2 Pool, will manage the companies fleets of 100,000 dead weight (dwt) product tankers (LR2 vessels) and commence operations on April 23.

The other members of pool are Russian Primorsk Shipping Company and Germany`s Reederei Nord Klaus E. Oldendorf.

"The LR2 Pool will manage a fleet of exclusively modern LR2 vessels numbering initially 14 vessels. As participants take delivery of newbuildings, the fleet will grow to more than 20 vessels by 2003," A.P. Moeller officials said.

A commercial management company owned jointly by Torm and Moeller with offices in Copenhagen and Tokyo as well as representations in Seoul and Singapore will be established to handle chartering and post-fixture operations for the pool.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

BG Group's Queensland Curtis LNG to Ship First Cargo

BG Group is set to ship the first cargo of liquefied natural gas from its flagship gas project Queensland Curtis LNG on Dec. 20, a source familiar with the matter told Reuters.

Dredging

EU Funds Study into New Aberdeen Harbor

The EU's TEN-T Program will invest over $940,000 for development studies for a new harbor at Nigg Bay in Aberdeen, Scotland. The harbor is to support the existing

Boskalis Raises Full-year Profit Forecast

Q3 TRADING UPDATE - HIGHLIGHTS Good third quarter with sizable financial settlements on old projects Order book increased slightly to EUR 3.3 billion 2014

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1086 sec (9 req/sec)