V.Ships, the ship management arm of global maritime services provider V.Group, has completed the transfer of the Pioneer Marine Inc’s dry bulk fleet into its management portfolio.
Singapore-based Pioneer Marine currently operates 13 operational handysize and handymax dry bulk ships on the water with another 12 ships currently under construction in China.
Initially contracted in August 2014 to manage three of Pioneer’s vessels, V.Ships has since conducted the transfer of the remaining operational fleet, with another three new Green Dolphin (RT Flex) vessels scheduled for completion and integration later in 2015.
“From early beginnings less than a year ago, Pioneer and V.Ships India have rapidly developed a trusted relationship which has seen V.Ships assume the full third party management of our entire fleet of vessels. This significant development has given V.Ships the opportunity to handle day to day management of the fleet, resulting in reduced costs and improved operational performance for Pioneer,” said Pankaj Khanna, CEO Pioneer Marine Inc.