Japanese tanker operator Nissen Kaiun and Reederei Nord of Germany have formed N2Tankers, an Aframax tanker pool commercially operated out of Amsterdam and Singapore.
“The two offices in Amsterdam and Singapore will be in fact the extended commercial department of the shipowners – Singapore managing the ships in the East, Amsterdam the ships in the West,” said Reederei Nord managing director Adriaan Rüppell.
The pool consists of 11 Aframax tankers. Seven are operated by Reederei Nord and comprise six tankers built by Sumitomo and one 2007-built unit was built by Universal. Three Tsuneishi Zosen-built Aframax tankers are operated by Nissen Kaiun. One Aframax, Nanyang Star was built at Sumitomo and its ownership is associated by VesselsValue with Global United Shipping.
Singapore-based ship manager Synergy Group has been charged with commercial management of N2Tankers for vessels deployed east of the Suez Canal and will also provide technical management services for Nissen Kaiun’s vessels in the joint venture on a global basis.
Synergy Group founder and chief executive Capt Rajesh Unni said “N2Tankers brings together two of the most renowned owners in world shipping in a sector of the tanker market that has seen a lot of consolidation in recent years. We are delighted we have been entrusted with management of the pool’s state-of-the art, modern tankers all built to the highest quality.”
Tanker Shipping & Trade has sought clarification on whether state-of-the-art includes ballast water treatment systems and scrubbers.
According to N2Tankers, the fleet will be further expanded, with Nissen Kaiun and Reederei Nord currently seeking out similar-minded owners of top quality Aframax tankers to join the N2Tankers pool. The pool’s size will be limited to 20-30 vessels to optimise cost efficiency and competitiveness.
“Our two companies have earned themselves outstanding reputations for the world-class efficiency and reliability of their fleets,” said Nissen Kaiun president Capt Katsuya Abe, “I believe our clear focus on our customers’ requirements will satisfy the needs of both cargo and tonnage owners, with the fleet providing operational flexibility for cargo owners, and voyage expenses falling due to the optimisation of vessel selection based on proximity to cargo.
“We are also delighted that Synergy Group, a long-term ship manager partner of Nissen Kaiun, is bringing its experience and expertise to this new venture. We fully expect N2Tankers to quickly be recognised as the world’s leading Aframax tanker pool.”
This is a somewhat ambitious statement, but then the Sigma Aframax tanker pool was approximately the same size when it formed 10 years ago and now consists of 43 Aframax tankers.
Business, operational and technical issues impacting the crude, product and chemical tanker trades will be discussed in London at the Tanker Shipping & Trade Conference, Awards & Exhibition, 20-21 November 2018.