After signing on as Team Tankers’ new president and chief executive in September 2015, Hans Feringa realised fairly quickly that one of the owner’s three core operating sectors needed attention.

Team Tankers of Denmark held a strong presence in its regional stainless steel tanker (7,000 dwt to 12,000 dwt) and coated vessel (10,000 dwt to 16,000 dwt) sectors, but not so much with its deepsea IMO II fleet of between 25,000 dwt and 50,000 dwt.