Tankers International to create scrubber VLCC pool

Sep 06 2019


Hunter Tankers, a wholly owned subsidiary of Hunter Group, has selected Tankers International (TI) as commercial manager for its VLCC fleet.

TI will establish the world’s first scrubber-fitted VLCC pool. In addition to the Hunter vessels, the pool will consist of VLCCs owned Hartree Maritime Partners, International Seaways, Oak Maritime (HK), and Ridgebury Tankers.

The Scrubber Pool will consist exclusively of modern scrubber-fitted tankers and will, combined with TI’s existing VLCC pools, represent the largest VLCC fleet in the world with more than 70 VLCCs on a fully delivered basis. 

TI is also expanding its global presence by opening of an office within the New York premises of International Seaways.

Hunter said that the creation of the Scrubber Pool will maximise the company’s earnings potential through access to a large scale operation with a strong independent management team, while simultaneously retaining 100% of expected scrubber fuel savings.

Upon the VLCCs’ delivery, the number of tankers, both scrubber fitted and non-scrubber fitted, in the TI pool will rise to 73. Arctic Securities acted as adviser in facilitating the Hunter Group joining TI.

“I am very pleased to welcome both the Hunter Group and Hartree Maritime Partners to the TI Pool.” said Jonathan Lee, TI’s CEO. “The introduction of these new vessels will further enhance the ability of TI to maximise the efficiency of the inherent design capabilities of each type of ship we operate and give our customer base consistent access to the highest quality fleet.

“I would like to thank Hartree Maritime Partners and the Hunter Group for their hard work that allowed us to complete all documentation for entry of vessel into the TI Pool and also thank our existing members, who have worked closely with the management of TI, to achieve a trading structure which is optimal for all members,” he said.

“As a founding member of Tankers International over 19 years ago, we are excited to help expand the global presence of the leading VLCC pool,” said Lois Zabrocky, International Seaways’ president and CEO. “Tanker International’s new offices located in our New York headquarters will further TI’s leadership and bring us closer to our customers in the Western Hemisphere, which is particularly important given increasing US Gulf exports.”

“This is a hugely positive development and we welcome our new partners to the TI Pool,” added Hugo De Stoop, Euronav’s CEO. “The arrival of the Hunter Group and Hartree Maritime Partners in bringing vessels fitted with scrubber technology illustrates the flexibility of the TI platform and highlights how commercial consolidation can benefit both tanker owners and charterers. We look forward to working with them and for further development of the TI Pool.”

“Hartree Maritime Partners is pleased to be a founding member in the next development phase of Tankers International,” added Guy Merison, Founding Partner at Hartree Partners. “We believe that the creation of a dedicated scrubber fitted section of the Tankers International VLCC pool is a best in class decision for the commercial management of Hartree’s four DSME VLCCs.

“These vessels have been built to exacting specifications and will be amongst the most ECO efficient modern vessels. We are confident that vessel earnings will be maximized for our scrubber fitted tonnage under the operation of the experienced and safe hands of Tankers International. Hartree looks forward to working with the existing and new pool members on this unique and exciting venture,” he concluded.

TI is jointly owned by Euronav and International Seaways and is based in London, with offices in New York and Singapore.

 



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