FOUR TANKER COMPANIES START VESSEL POOL
A.P. Moller, Primorsk Shipping Co., Reederei Nord Klaus E. Oldendorff and A/S Dampskibsselskabet Torm have agreed to establish a tanker pool to commercially manage their fleets of 100,000-deadweight product tankers.
The new pool, called “The LR2 Pool,” will commence operations on April 23. The pool will manage a fleet of modern vessels numbering initially 14 vessels. As participants take delivery of newbuildings, the fleet will grow to more than 20 vessels by 2003.
A commercial management company owned jointly by A/S Dampskibsselskabet Torm and A.P. Moller with offices in Copenhagen and Tokyo will be established to handle chartering and post-fixture operations for pool