Hellespont Launches Chemical Tanker Pool

Friday, April 17, 2009

Hamburg-based Hellespont has launched a pool for modern IMO 2 chemical/product tankers. The Seatramp Intermediate Tanker Pool will initially consist of three KG-financed and Hellespont-operated 13,000 dwt vessels, and Hellespont has committed a further eight 17,000 dwt newbuildings due between now and 2011 to the pool. Talks with other owners are at an advanced stage and the aim is to bring the pool to around thirty vessels by the end of 2010.

Christian van Oldershausen, managing director of Hellespont AG, said, “In the current market consolidation of fleets into pools makes a lot of sense. It smoothes earnings, allows the pool to develop long term relationships with large charterers and balance tonnage against cargo commitments and overall increases returns as tonnage utilization rises. Our KG investors want us to take commercial control of our ships, hence the pool format, which will be strengthened when we expand with other independent owners.”

The pool is for IMO2 chemical/product tankers built post-2000 of between 10,000 and 20,000 dwt. It will be operated from Hamburg by Hellespont Tankers Gmbh and pool vessels will trade worldwide.

Hellespont currently operates seventeen new crude, product and chemical tankers and two platform supply vessels and has a further four PSV vessels and eight 17,000 dwt chemical carriers on order with delivery dates out to 2011. The group previously ran the Seatramp Tankers pool and the Probulk pool.

(www.hellespont.com)

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