Global Oil Tanker Shortage is Getting Worse By the Day
For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.
Maersk Tankers, a global leader in the shipping industry, is set to launch a new chemical tanker pool on October 1st, expanding its services and strengthening its position in the market.
The new pool, named Maersk Tankers Chemicals, aims to maximize returns for partners’ J19 vessels by leveraging the company’s extensive experience and expertise in chemical vessel operations. The J19 classification typically refers to stainless-steel chemical tankers between 19,000 and 22,500 DWT.
“With no minimum commitment period and flexible redelivery terms, the new Chemical Pool offers a seamless onboarding process and a fair and transparent earnings model,” Maersk Tankers said in a social media post.
This expansion comes on the heels of Maersk Tankers’ recent acquisition of Penfield Marine, a boutique commercial management company, which was completed in January. The strategic move allows Maersk Tankers to establish a larger-scale crude and product tanker company, enhancing its service offerings to pool partners and cargo customers.
The newly combined entity manages an impressive fleet of approximately 240 vessels, including around 45 vessels owned by affiliated companies. Penfield Marine, founded in 2012, brings to the table its global operations through Panamax/LR1, Aframax/LR2, and Suezmax pools, along with a diverse clientele that includes major oil companies and oil traders.
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