In a move that specifically refers to Maersk Tankers’ digital expertise, Cargill is placing 20 MR tankers in the Maersk Tankers’ pool
Announcements of these types of joint ventures usually reference “economies of scale” or the ability to procure marine fuel at favourable prices. It is a sign of the times that although this is a big announcement from a fleet point of view – 20 MR tankers joining the Maersk Tankers’ MR pool – Cargill specifically refers to Maersk Tankers’ digital expertise and the use of algorithmic trading to position vessels in the spot market.
Cargill Ocean Transportation global head of tankers Olivier Josse said “Our teams share a passion for safety and sustainability and combine complementary skills. This partnership will bring a progressive approach to our customers, notably increased digitalisation and sustainable shipping.”
Maersk Tankers chief commercial officer Claus Gronborg said, “We are excited to partner with Cargill, a key industry player. The new set-up will substantially increase the scale of the pool and give us more flexibility to offer a better service to our customers.”
The companies state that the new joint pool will harness their combined expertise in fuel optimisation, reducing bunker consumption and CO2 emissions.
Cargill’s vessels will enter the pool from 1 October 2019. Both companies intend to attract additional vessels from other shipowners and further increase the pool’s capacity over time. The pool will be managed by Maersk Tankers, with members of Cargill’s tankers team joining to provide support on a full-time basis. The new team will be located across Copenhagen, Singapore and Houston and will cover all daily commercial and operational tasks.
The agreement does not include derivatives or MR tankers for period employment, which will be handled by Cargill and Maersk Tankers independently.
Maersk Tankers currently operates 44 vessels for 10 partners in its existing MR pool. Cargill will add its fleet of up to 20 vessels, increasing the number of vessels to more than 60, making the new pool a market leader in the MR segment.
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