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Tankers International opens office at New York

Tankers International opens office at New York
Tankers International, one of the largest pool operators of VLCCs worldwide (“Tankers International”, the “TI Pool” or “TI”), announced today the addition of two new members, the Hunter Group ASA and Hartree Maritime Partners LLC

and the expansion of its global presence with the opening of an office within the New York offices of International Seaways, Inc. Upon delivery this will bring to 73 the number of tankers under the commercial management of Tankers International incorporating both scrubber and non scrubber fitted VLCCs. Arctic Securities acted as adviser in facilitating the Hunter Group joining the Tankers International pool.

“I am very pleased to welcome both the Hunter Group and Hartree Maritime Partners to the TI Pool.” said Jonathan Lee, Tankers International’s CEO. “The introduction of these new vessels will further enhance the ability of TI to maximize the efficiency of the inherent design capabilities of each type of ship we operate and give our customer base consistent access to the highest quality fleet. I would like to thank Hartree Maritime Partners and the Hunter Group for their hard work that allowed us to complete all documentation for entry of vessel into the TI Pool and also thank our existing members, who have worked closely with the management of TI, to achieve a trading structure which is optimal for all members.”

“As a founding member of Tankers International over 19 years ago, we are excited to help expand the global presence of the leading VLCC pool,” said Lois K. Zabrocky, International Seaways Inc.’s president and CEO. “Tanker International’s new offices located in our New York headquarters will further TI’s leadership and bring us closer to our customers in the Western Hemisphere, which is particularly important given increasing US Gulf exports.”

“This is a hugely positive development and we welcome our new partners to the TI Pool,” added Hugo De Stoop, Euronav NV’s CEO. “The arrival of the Hunter Group and Hartree Maritime Partners in bringing vessels fitted with scrubber technology illustrates the flexibility of the TI platform and highlights how commercial consolidation can benefit both tanker owners and charterers. We look forward to working with them and for further development of the TI Pool.”

“Hartree Maritime Partners LLC is pleased to be a founding member in the next development phase of Tankers International,” added Guy Merison, Founding Partner at Hartree Partners LP. “We believe that the creation of a dedicated scrubber fitted section of the Tankers International VLCC pool is a best in class decision for the commercial management of Hartree’s four DSME VLCCs. These vessels have been built to exacting specifications and will be amongst the most ECO efficient modern vessels. We are confident that vessel earnings will be maximized for our scrubber fitted tonnage under the operation of the experienced and safe hands of Tankers International. Hartree looks forward to working with the existing and new pool members on this unique and exciting venture.”

Tankers International was formed in 2000 and is today one of the largest commercial operators of VLCCs in the world with a fleet of 62 vessels. The company is jointly owned by Euronav NV (NYSE: EURN and Euronext: EURN) and International Seaways, Inc. (NYSE: INSW). Tankers International is based in London, with offices in New York and Singapore.

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