New VLCC Joint Venture on Horizon

New VLCC Joint Venture on Horizon

Frontline Management (Bermuda) Ltd., and Cyprus-based Tankers International LLC (TI) have started a new company named VLCC Chartering Ltd., pooling together their respective VLCC fleets in an effort to enhance flexibility and provide cargo owners with more options.

The companies also hope that the new joint venture will enable them to to reduce voyage related expenses and thereby improve the VLCC’s net earnings, as well as to reduce carbon emissions as a direct consequence of using less fuel for cargo movements through fleet optimisation.

Reducing fuel consumed to move cargoes through optimisation will directly reduce the fuel emissions which are the primary source of pollution from ships.

VLCC Chartering Ltd. will be jointly owned by the partners and the services provided by it will be subcontracted to it by TI and Frontline Management AS.

It is intended for VLCC Chartering Ltd., to start operating on October 6, 2014,  from the existing offices of Frontline Management AS and TI.

Press Release, October 01, 2014

Share this article

Follow World Maritime News

In Depth>


<< Feb 2020 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >