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

Cruise Ship Trends

Navy Awards Contract for Passenger Terminal Renovation in Hawaii

Naval Facilities Engineering Command (NAVFAC) Hawaii awarded a $20.5 million firm-fixed-price task order under a multiple award construction contract April 27 to Insight Pacific LLC,

Containers, Crude Drive Q1 Increase at Marseille Fos

A record month for containers and a revival in crude oil imports boosted first quarter throughput at leading French port Marseille Fos to 20.1 million metric tons – up by 1.

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

Tanker Trends

Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes

Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May.   There

Tank Coating for Navig8 Chem Carriers

Shipowner Navig8 is progressing the application of Interline9001, a advanced cargo tank coating from AkzoNobel’s International marine product range, on a series

Containers, Crude Drive Q1 Increase at Marseille Fos

A record month for containers and a revival in crude oil imports boosted first quarter throughput at leading French port Marseille Fos to 20.1 million metric tons – up by 1.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1216 sec (8 req/sec)