Shipmanager Mjolner Shipping Holdings and merchant banking firm MID-SHIP Capital have created an oil tanker-focused investment fund via Mjolner Solutions, a Marshall Islands joint venture company.
As explained, Solutions was formed to provide investors with access to vessel trading exposure in the crude tanker market.
Mjolner and MID-SHIP, as general partners, will provide all services pertaining to Solutions, including commercial management, risk management, finance and investor relations.
“Mjolner is excited about the expansion of services it can provide via the Mjolner Solutions platform. It has been a goal of ours since the formation of the company and we are pleased to partner with MID-SHIP Capital. The fund will complement our existing commercial management and pooling activities,” Kevin M. Wise, Mjolner’s President & CEO, said.
“We believe today’s environment provides investors with an attractive opportunity to profitably capitalize on the inherent volatility of the crude tanker market,” Dean Fezza, MID-SHIP’s CEO, commented.
New Jersey-based Mjolner Shipping is a marine asset manager that provides turnkey commercial solutions to owners, investors, refiners and traders.
Headquartered in New York, MID-SHIP Capital provides principal and investment banking services to the energy, commodities and transportation sectors.