Trio team up in VLGC venture

Three shipping companies, led by Denmark’s Maersk Tankers, are pooling their fleets of very large gas carriers (VLGCs), a market segment where BW Gas has been by far the most dominant player.

The other partners in the pool, which will control 14 VLGCs by 2011, are integrated tanker company Transpetrol Maritime Services and Zodiac Maritime Agencies, part of the Sammy Ofer empire. Maersk Tankers, the tanker division of the A.P.Moller-Maersk Group, currently operates eight vessels, with a ninth added by 2011. Transpetrol will add two newbuildings during 2009, while Zodiac manages three other newbuildings, which will enter the pool during 2010-11. Maersk Tankers will operate the pool, undertaking all daily commercial and operational tasks, including fixing vessels, voyage execution, post-fixture operations, and demurrage/claims procedures.
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