Maersk and Torm drain LR2 pool
Maersk Tankers and Torm are ending their 13-year cooperation in the LR2 sector to take full control of their fleets.
Their LR2 Pool joint venture said in a statement that the agreement would end from 1 October, with Greek company Sanmar Shipping also exiting the arrangement.
The pool is listed as having 28 ships, with Torm operating 17, including two controlled by Fuyo Kaiun of Japan. Torm has 10, with Sanmar contributing the 100,000-dwt Sanmar Sonnet (built 1997).
Christian Ingerslev, CCO of Maersk Tankers, said: "As part of Maersk Tankers' strategy to focus purely on the product markets, we also wish to take full control over our investments in the segments we are engaged in.
“Our LR2 fleet is the only one that we do not have full commercial control over and consequently, we are bringing our LR2 activities back into the Maersk Tankers set-up. We are thankful for the close cooperation we have had with Torm for more than a decade."
Tina Revsbech, Torm’s head of tankers, echoed this, saying the owner wanted “strategic and commercial control of all of our investments.”
All charters and commercial obligations conducted as the LR2 Pool - whether commenced or not - will be completed as per normal operations