VLCC pooling platform Tankers International has brought in a new partner, adding Lila Global and its recently acquired VLCC to its fleet.
The addition of the 313,798 dwt Lila Kochi lifts the Tankers International VLCC pool to 29 vessels.
Dubai-based Lila Global, which has been expanding its footprint in the product and crude tanker segments, bought the vessel in May from Japanese owner Mitsui OSK Lines (MOL) for roughly $47m.
Tankers International said its pool model offers partners access to longer-haul, higher-yielding trades and benefits from the collective commercial scale and market intelligence of the fleet.
Charlie Grey, CEO of Tankers International noted that the company’s pool is designed to adapt to market shifts and deliver consistent performance, adding that by bringing in a quality ship like Lila Kochi and a partner with a long-term view like Lila Global fits well with the company’s strategy of combining scale with quality tonnage and owners who are looking to “maximise their exposure to the spot market, particularly at a time when fundamentals point to a strong freight market going forward.”
Faidon Panagiotopoulos, head of S&P at Lila Global, noted the partnership supports the company’s return to tankers. “We’re confident this will help all pool members optimise returns, and assist them to maximise shareholder returns,” he said.
Tankers International now counts eight pool partners, with the flee comprising both modern and mid-age tonnage, aimed at maximising earnings through spot market exposure.