Hamburg-based pool and commercial manager United Product Tankers (UPT) has undergone massive change in the past few years.
It has transformed from being largely a commercial manager for joint-venture shareholders Schoeller Holdings and Hartmann AG to a far more broad-based operation with at least 10 different partners in its pools.
It has fewer ships than at its peak of about seven years ago, but still controls 34 vessels, all but two in its LR1/panamax and handysize pools.
