The undisclosed amount of compensation was agreed when the management venture was set up in 2012.
The joint venture with Teekay, which Cremers says was “financially as well as professionally satisfying”, had grown to manage some 55 ships, all crude tankers. TradeWinds recently reported on Teekay’s take-back of the ships for in-house management.
“People are asking why and it’s actually relatively simple.
