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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Danish Pleasure Craft Safety Board Gets A New Head

From 1 February 2015 a new chairman will head the Danish Pleasure Craft Safety Board. The new incumbent is Jan Thorn, who is in his everyday work Director

MSC Sinfonia Upgradation at Fincantieri Shipyard

Extension operations on MSC Sinfonia, the second out of four MSC cruise ships to undergo the Renaissance Programme of enhancements, have begunin the past days at Fincantieri shipyard in Palermo.

Carnival Cruise Line Returns to Europe

Carnival Cruise Lines is to return to Europe next year with its biggest ship ever, the 3,936-passenger Carnival Vista.  The Doral-based cruise line revealed details about the new 133,500-ton vessel.

Tanker Trends

Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural

Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs

Tepco, Chubu Buying 6 LNG cargoes from Vitol

Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1452 sec (7 req/sec)