Wednesday, February 18, 2009
Tsakos Group private arm to participate in Morgan Stanley's tanker pool
Wednesday, 18 February 2009
Tsakos Shipping & Trading, the private arm of shipping company Tsakos Group entered two of its newbuilding panamax tankers vessels into Morgan Stanley’s panamax pool Star Tankers Inc., managed by the investment bank’s affilated compay Heidmar Inc. Tsakos entered the 2009-built and just delivered to the company panamaxes “Salamina” and “Selini”, which have a capacity of 74,251 dwt and 74,296 dwt respectively. Commenting on this development, the company told Hellenic Shipping News that this decision offers the group significant advantages, such as a more stable and secured employment of the vessels. “Tsakos Shipping & Trading is mainly focused in the dry bulk and container segments of the market, as opposed to the public company of the group, Tsakos Energy Navigation, which is a leading tanker owner and operator” the company said. Further to that, the inclusion of the vessels into the pool acts as a benchmark, in order to track the market or the company’s own chartering department, using it as a means of comparison.
Star Tankers Inc. was expanded by two more vessels, owned by Sanko Steamship Co. The company entered the 61,204 dwt Moonlight Venture and the 61,213 dwt Larvik. Both tankers are 2006-built. According to reports, Heidmar currently runs 95 tankers in five different pools. Star Tankers consists of panamaxes or LR1 tankers, Sigma Tankers consists of aframaxes or LR2 tankers, Dorado Tankers consists of MR product tankers, Marida Tankers is made up of SR tankers and Blue Fin Tankers offers suezmaxes.
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