Gunvor, Oceangold and Maas Capital form ship holding company

23 May 2018 (Last Updated May 23rd, 2018 12:01)

Global energy trading company Gunvor Group has established a ship holding company, ClearOcean Tankers, in a joint venture (JV) with Oceangold Tankers and Maas Capital.

Global energy trading company Gunvor Group has established a ship holding company, ClearOcean Tankers, in a joint venture (JV) with Oceangold Tankers and Maas Capital.

All three signatories have an equal share in ClearOcean Tankers, which is based in Cyprus.

ClearOcean has already placed orders with STX Offshore and Shipbuilding and Daehan Shipbuilding for the construction of four MR2 and two LR2 product tankers.

All the eco-friendly and scrubber-ready tankers are expected to be delivered during the first half of next year.

They will be able to comply with the International Maritime Organization’s new standard for reduced sulphur emissions from global shipping that is set to be implemented in 2020.

Following delivery, the vessels will be operated by Gunvor’s wholly owned shipping division, Clearlake Shipping, under long-term time charters.

Oceangold Tankers will also look after the construction and technical management of the vessels.

“Teaming up with solid partners like Oceangold Tankers and Maas Capital enables us to control more vessels and to de-risk our investment.”

ClearOcean Tankers may purchase additional newbuilding, or resale second-hand crude oil or product tankers.

Clearlake Shipping head Jan Andersen said: “Expanding into vessel ownership and taking advantage of the historically low shipbuilding prices to contract eco-friendly, scrubber-ready newbuilding tankers represented an attractive opportunity.

“Teaming up with solid partners like Oceangold Tankers and Maas Capital enables us to control more vessels and to de-risk our investment.”

Gunvor primarily provides logistics solutions that safely move physical energy, metals and bulk materials from the source.

Oceangold Tankers currently operates a fleet of ten tankers globally, including five MR2 product tankers, one Panamax crude oil tanker, as well as two LR1 and two LR2 product tankers.

Investment firm Maas Capital focuses on shipping, intermodal, oil and gas, as well as the renewables sectors.