Teekay is launching a pool for long range 2 product tankers as the leading energy shipping group continues to seek fleet efficiencies through co-operation with other owners.
The new Taurus Tankers pool comprises nine LR2 tankers all in the 105,000 dwt-115,000 dwt size range.
Teekay has contributed four vessels, Almi Tankers and Interorient two vessels each, with one newbuilding from Four Jolly, a joint-venture between Premuda and Messina.
The pool is “actively seeking to expand”, with a target fleet size of between15-20 vessels.
Taurus Tankers will be commercially managed by Teekay, mainly from the group’s London office, but will also have access to other offices in its global chartering network.
The Taurus Tankers vessels can operate in both the clean product and crude oil markets.
“This cross trade, made possible by the vessels’ coated tank configuration, will serve to further optimise vessels’ earnings and provide more options to our customers,” Teekay said.
Teekay is already the leading operator of tonnage in the adjacent aframax crude oil tanker market.
“We continually look for ways to improve on the level of service we provide our customers while maximising the efficiency of our fleet,” said Teekay Tanker Services president Bruce Chan.
“We believe the Taurus Tankers LR2 pool, with its high quality homogenous fleet, allows for greater flexibility in meeting customers’ preferred cargo lifting dates.
“It will also allow us to pursue tailor-made contracts that provide improved fleet utilisation and cost efficiencies through economies of scale.”
The aim is for Taurus Tankers to provide advantages to pool partners such as “enhanced operational efficiency, improved revenue stability, experienced chartering personnel”, as well as the benefit of Teekay’s established customer relationships.
Teekay already leads the Gemini suezmax pool in which Frontline, König & Cie and Hyundai Merchant Marine are partners.
The new Taurus Tankers pool comprises nine LR2 tankers all in the 105,000 dwt-115,000 dwt size range.
Teekay has contributed four vessels, Almi Tankers and Interorient two vessels each, with one newbuilding from Four Jolly, a joint-venture between Premuda and Messina.
The pool is “actively seeking to expand”, with a target fleet size of between15-20 vessels.
Taurus Tankers will be commercially managed by Teekay, mainly from the group’s London office, but will also have access to other offices in its global chartering network.
The Taurus Tankers vessels can operate in both the clean product and crude oil markets.
“This cross trade, made possible by the vessels’ coated tank configuration, will serve to further optimise vessels’ earnings and provide more options to our customers,” Teekay said.
Teekay is already the leading operator of tonnage in the adjacent aframax crude oil tanker market.
“We continually look for ways to improve on the level of service we provide our customers while maximising the efficiency of our fleet,” said Teekay Tanker Services president Bruce Chan.
“We believe the Taurus Tankers LR2 pool, with its high quality homogenous fleet, allows for greater flexibility in meeting customers’ preferred cargo lifting dates.
“It will also allow us to pursue tailor-made contracts that provide improved fleet utilisation and cost efficiencies through economies of scale.”
The aim is for Taurus Tankers to provide advantages to pool partners such as “enhanced operational efficiency, improved revenue stability, experienced chartering personnel”, as well as the benefit of Teekay’s established customer relationships.
Teekay already leads the Gemini suezmax pool in which Frontline, König & Cie and Hyundai Merchant Marine are partners.