Pioneer Marine Gets Tufton Oceanic Funds
Greece-based global shipping company specializing in the transportation of dry bulk commodities Pioneer Marine said that it has entered into a commercial management agreement with Tufton Oceanic Funds.
The agreement is to undertake the commercial management of five dry bulk vessels, further enhancing its operating platform, said the shipowner and global drybulk handysize transportation service provider.
Upon the initiation of this cooperation, Pioneer will have under commercial management a total fleet of 24 handysize and one supramax vessels, including owned fleet.
Tufton Oceanic is a fund management firm for the maritime, energy related and the wider global transportation and infrastructure sectors.
Pioneer Marine also revealed its plan is to proceed with the installation of Ballast Water Treatment System (BWTS) on four vessels of the fleet in 2019 and the remaining fleet vessels up to early 2023. From the current fleet two vessels are already fitted with BWTS.