The formation of a joint chartering pool for suezmax tankers trading in the spot market is the easier course than actual company mergers to wring out inefficiencies from shipping markets, according to UBS.
As reported in the weekly edition of TradeWinds, Suezmax Chartering will create a single point of contact for charterers to access a fleet of 43 suezmaxes. The joint venture is expected to reduce voyage expenses and optimise voyages which should result in higher time charter equivalent earnings.
Analyst
