Tanker Operators To Join Forces

Monday, March 26, 2001
Norwegian tanker operator Iver Ships will join forces with Japan's Mitsui O.S.K Lines to form the second biggest clean tanker alliance in the Asia Pacific region. Iver said the two companies would merge their medium-range (MR) tanker fleets over the next six months to form a pool of 12 45,000 tonners. "Our customers -- the oil majors and petrochemical companies -- are globalizing to form bigger units, and they're looking to concentrate on a few service providers capable of doing a bigger part of the job," Iver CEO Hans Jorgen Firing said. "That's why we decided to become a bigger player in this market... so we could be one of the chosen few," he said. The fleet will operate anywhere between the Mideast Gulf and the U.S. West Coast. Pooling of assets is a growing trend in the tanker industry, as owners struggle to hold their own against an ever more consolidated oil industry, and as they focus on servicing bigger contracts. Iver's fleet of 24 product and chemical tankers currently operates in Asia, the Caribbean and Latin America, and will be joined by four new tankers this year. Six will join the new Asia Pacific pool. Mitsui O.S.K. is one of the world's biggest shipping companies, controlling over 600 ships, and handling about 30 percent of Japanese oil imports. It has 10 product tankers, of which six will enter the pool with Iver. The alliance will compete with two other major pools in the same size range. The Dorado pool has 10 MR tankers and is managed by U.S.-based Heidmar Marine. The TPP pool has 13 MRs and is an alliance between four players Torm, Pacific Carriers, Sanmar Shipping and Primorsk Shipping. - (Reuters)
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

AEG to Power Seabourn’s Cruise Vessel

AEG Power Solutions, a global provider of power electronic systems and solutions for industrial power supplies and renewable energy applications, informed that Fincantieri S.

Norwegian Epic to Sail from Port Canaveral

Port Canaveral will homeport Norwegian Cruise Line’s (NCL) largest ship and currently the third largest in the world—the Norwegian Epic—starting in November 2016,

Cruise Industry Wins Key Norovirus Judgment

In what is being seen as a landmark decision, Hill Dickinson is the first law firm to have successfully defended a UK class action case involving a Norovirus outbreak onboard a cruise liner.

Tanker Trends

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

Asia to Northern Europe Shipping Rates Jump 177%

Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday,

Koole Expands Rotterdam Operations

Koole Terminals has begun operations at the storage facility for petrol and diesel in Pernis that it recently acquired from BP.   The companies have a long-standing relationship.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1054 sec (9 req/sec)