N2Tankers Aframax Pool Launched

German shipowner Reederei Nord and Singapore-based ship manager Synergy Group, on behalf of Nissen Kaiun, have launched N2Tankers, a new Aframax tanker pool the two shipowning companies have set up as a joint venture (JV).

The combined fleet currently pooled under N2Tankers consists of 13 state-of-the art Aframax tankers built to the highest standards over 2007-2018 in Japanese yards Universal Shipbuilding Corporation, Sumitomo Heavy Industries Marine & Engineering Co., Tsuneishi Holding Corporation, Sumitomo Heavy Industries, Ltd, and Tsuneishi Shipbuilding Co.

According to a press statement, N2Tankers brings the shipowning and operational expertise of Nissen Kaiun and Reederei Nord under one central umbrella administration for the first time.

It will focus on generating commercial and technical management efficiency benefits for clients and owners by streamlining fleet operations and improving vessel financial performance.

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.

Capt. Rajesh Unni, CEO and Founder of Synergy Group, 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.

“This is recognition of our unique ability to meet the commercial and technical ship management requirements under one roof for the most demanding owners.”

 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.  However, the pool’s size will be limited to 20–30 vessels to optimise cost efficiency and competitiveness, it said.