Perhaps the most high-profile example of operators reorganising their fleets in order to adjust to present market conditions is the new VLCC pool, Nova Tankers. Led by Maersk, the aim is to pool 50 vessels with an average age of 3.5 years by the end of 2012. While pooling as a response to a difficult market is not new, what perhaps distinguishes this arrangement is the presence of pool debutants Ocean Tankers and Samco Shipholding. The other two participants, Maersk Tankers and Mitsui OSK Lines....

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