Tanker pool collaborates to adopt AI management solution

Signal and Heidmar have agreed a milestone partnership, under which Signal will manage a joint tanker fleet using its proprietary technology and analytical approach. Signal will provide its artificial intelligence (AI) platform that takes tanker positions, emails and broker inputs to produce complex voyage scenarios, tonnage lists and TCE calculations.

According to Signal, its AI-backed solution to pool management has delivered superior earnings to its pool members since its launch in 2018. The commercial management of 18 Aframax vessels in Heidmar’s Sigma Pool will be handled by Signal with immediate effect, with a transition period of one month.

Signal will also work with the Heidmar team to manage the LR2 vessels in its Sigma Pool, the Suezmax vessels in the Bluefin Pool and the VLCC vessels in the Seawolf Pool. The vessels within these pools will remain within their existing structures but benefit from access to Signal’s capabilities.

Athens-headquartered Signal Maritime Services is a commercial ship management company bringing together shipping best practice with internet-age advanced analytics and management methods. The company is focused on producing responsive, high-performance and sustainable commercial management for a growing, modern fleet.

Signal Group chief executive Ioannis Martinos commented “We are excited to join forces with Heidmar and look forward to bringing a stronger and better service to the market through this collaboration. Signal has delivered leading performance since its launch in 2018, through a highly driven team and an expertly-used technology solution. We are confident the combination of the Signal team and our technology will continue delivering a strong performance for all our pool partners.”

Founded in 1984, Heidmar is one of the world’s leading commercial tanker operators with a fleet of about 50 vessels, including VLCC, Suezmax, Aframax/LR2 and Panamax tankers entered into its pools by 20 separate companies. It has offices in Singapore, London, Houston and Connecticut.

Heidmar shareholder George Economou commented “Digitalisation and consolidation are a theme of today’s market and a necessity to provide relevant and superior customer service. The pooling business is highly competitive and we believe the combination of Signal’s technology with a sizable fleet will provide the right mix for a successful pool.”

The news of Signal and Heidmar’s collaboration comes only a few months after Signal Ocean announced that it had teamed up with international shipbroker SSY.