Tankers International, the world’s largest shipping pool for VLCCs, has announced today that Transportation Recovery Fund (TRF) operated vessel the TRF Horten has joined its specialist VLCC Scrubber Pool.
The TRF Horten (297,638 DWT / Built 2018) was delivered to Tankers International earlier this month. The total size of the Tankers International fleet now stands at 64 VLCCs, and the specialist Scrubber Pool has increased in size to 36 vessels.
The addition of the TRF Horten has reduced the average age for the scrubber pool to seven years, in contrast to the industry average of 10.7 years, which is aligned with Tankers International’s mission to replace old and less efficient tonnage with modern, cleaner vessels.
With ownership in 19 ships in the chemical and crude segments, TRF will benefit from a transparent and cost-effective solution to maximize earnings in the spot market through Tankers International’s powerful economies of scale and unparalleled access to relationships and cargoes. TRF will also benefit from more streamlined operations, consistent cash flow, and high-level information sharing associated with Tankers International’s pooling model.
In response to the growing diversification in the VLCC fleet, Tankers International has created several sub-pools to reflect unique trading patterns and earning potential to ensure fair sharing of earnings and costs between similar vessel types. For instance, the Tankers International Scrubber Pool functions as a sub-pool operating from a unique financial and commercial perspective while sharing resources across the entire Tankers International fleet.
“The addition of the TRF Horten further improves our pool’s unrivaled strength and depth, delivering clear benefits for TRF and our other pool partners,” Charlie Grey, CEO of Tankers International, said. “It also represents an exciting opportunity for us to develop a closer relationship with TRF, which offers value to the pool with its knowledge, experience, and expertise. TRF’s decision to join the pool is a statement of trust in our ability to adapt to changing markets and ensure that all partners are optimised for the future.”
Michael Aasland, CEO of TRF Ship Management, added: “We applaud Tankers International’s reputation for professionalism, trustworthiness, flexibility, and service with its experienced management team and relentless focus on driving value for pool partners. We look forward to improved cash flow and revenue as part of a mutually beneficial partnership that sees strong financial returns in the near and long term.”
Source: Hellenic Shipping News
