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Seaarland, Roxana

Seaarland Shipping Management and Athensbased Roxana Shipping have established a new pool for LR1 tankers. The Global Tanker Pool will be operated from Seaarland’s Asian arm, Seaarland Management Services Singapore, and has commenced operations with six modern LR1 tankers. The pool manager is Karl Arthur Braein, previously head of chartering in Asia- Pacific for ConocoPhillips.

Antonio Zacchello, managing director of Seaarland says, “We aim to attract other longterm- minded owners/operators of LR1 tankers and build the pool to around 20 vessels. The present market conditions invite more consolidation in the shipping industry and this consolidation is something we will continue to be part of.”

The Global Tanker Pool will initially focus on the growing clean petroleum products trade as its core business. Constantinos Krontiras, director of Roxana, says: “This new pool is the way to join forces with other likeminded owners to provide our charterers with better service and give ourselves a less volatile earnings stream. Global Tanker Pool is our first active pool participation and we appreciate the importance of consolidation in the industry.

The concept of revenue consisting of spot market exposure as well as fixed and floating rate coverage, which the pool intends to offer going forward, covers our portfolio management needs very well.”

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