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Last month, the team at Tankers International participated in a 15 km London Maritime Walk from the IMO to the Cutty Sark in support of our incredible charity partner, Mercy Ships. Together, we set out not just to raise awareness, but also to generate vital funds for a charity that delivers life-saving medical care and training to some of the most vulnerable communities globally. Through donations made both online and offline plus gift aid, we have raised a £10,000!

Mercy Ships operates hospital ships that travel to regions with limited healthcare infrastructure, providing essential medical services to those who need it most. This charity and its cause hold a special place in our hearts, with our CEO, Charlie Grey, leading the Mercy Ships London committee, working to highlight the work of the charity within the capital’s wider shipping community. Earlier this year, Charlie and other committee members travelled to Sierra Leone, to witness first-hand the transformative impact of Mercy Ships’ work, a trip that was disrupted by an alleged coup attempt, but also gave the team great insight into the immense impact of Mercy Ships from life-saving surgeries to medical training for local healthcare workers. However, it also underlined the critical need for continued and generous support. Thankfully, our walk wasn’t disrupted by a coup attempt, although we had our own set of challenges to deal with on the day!

On 26^th of September, we swapped our office attire for walking gear and, joined by representatives of Mercy Ships UK, we set off bright and early with our colourful Mercy Ship t-shirts and sunny sky outside the IMO HQ. Spirits were high, and our route took us past some of London’s most iconic maritime landmarks along the river Thames.

As we passed Tower Bridge and St Katharine Docks Marina, the weather took a dramatic turn, and torrential rain descended upon us, forcing us to seek cover under doorways as makeshift shelters. Sadly, even with our well-equipped raincoats, gear and warnings to be prepared for wet weather, we were all absolutely soaked through! Despite the sudden downpour, we pushed on, determined to complete the walk for such an important cause.

At one point, the rain was so heavy that we took shelter in a local community centre in Deptford, where the members of the centre greeted us and welcomed us in. They recognised the Mercy Ships logo on our t-shirts and shared their own admiration for and personal stories of the charity’s work. This simple act of kindness was a reminder of how widely Mercy Ships’ mission is respected, and how many people are inspired by the incredible work it does.

One of the most heart-warming aspects of the walk was the support we received from the general public. As we made our way through the city, people noticed our Mercy Ships t-shirts and stopped to offer words of encouragement. Some even asked how they could contribute to the cause.

Our route took us past some of London’s most iconic maritime landmarks:

1. Tattershall Castle – Once a ferry on the River Humber, now a floating pub on the Thames.
2. HQS Wellington – A WWII Royal Navy ship, now home to the Honourable Company of Master Mariners.
3. The Golden Hinde – A replica of the ship Sir Francis Drake sailed around the world.
4. HMS Belfast – A WWII Royal Navy cruiser turned floating museum.
5. The Mayflower Pub – A historical pub marking the departure of the Pilgrims to America.
6. Pageant Stairs Obelisk – A riverside landmark near Canary Wharf.
7. Greenland Dock – A former Arctic whalers’ base, rich in maritime history.
8. Cutty Sark – A 19th-century tea clipper now preserved in Greenwich.

Participating in this walk was more than just a physical challenge, it was a chance to make a difference in the lives of those less fortunate. As our walk took us past St Thomas’ hospital, it was a stark reminder that the illnesses that bring many of the patients to Mercy Ships for treatment are avoidable in the West and how the work of the charity is essential, offering urgent medical care but also local training to the community, ensuring that they have the necessary skills to provide these treatments locally once the hospital ship sets sail for its next destination.

If you feel inspired by the work of Mercy Ships and want to join us in making a difference, please consider donating via our fundraising page. Running one of its two hospital ships takes nearly $100m a year and your contribution, no matter the size, will help provide critical medical care to those who desperately need it.

This experience was truly unforgettable, bringing together the team, our shared maritime heritage, and our commitment to supporting a wonderful cause.

Together, we can make an impact. Thank you for your support!

Make your donation here: https://www.justgiving.com/page/TILondonMaritimeWalk

Pool partners benefit from supercharged fuel procurement strategies

London, 2^nd October 2024: Tankers International, a leading VLCC pool in the shipping industry, has appointed Stephen Robinson to head up its bunker desk. With decarbonisation and efficiency both high on shipping’s agenda, fuel procurement strategies are central to managing the energy transition and future proofing energy security.

Robinson will be UK-based and brings many years of experience to the business, having previously worked as managing director for both Bomin and Cockett Marine Oil. Over his career, he has developed an in-depth understanding of both the trading and physical supply of fuels. He has a solid technical background in terms of fuel procurement, management and hedging, and has long, established relationships with many physical suppliers – an advantage for Tankers International when developing and maintaining credit lines.

Matthew Smith, Chief Operating Officer, Tankers International, said: “Stephen Robinson brings with him a wealth of knowledge and strong relationships which he has developed over many years on both the trading and supply sides of the bunkering world. With decarbonisation so high on the shipping agenda plus the emerging alternative fuels landscape, this has never been more important. We’re excited to have someone of his pedigree supporting our pool, focusing on realising the growing competitive advantage that an effective fuel strategy has to offer, and adding true value to our partners when it comes to fuel procurement.”

Stephen Robinson, Head of Bunker Strategy & Procurement, Tankers International added: “While Tankers International has always provided this service to pool members and has established solid credit lines, with the emergence of alternative fuels, the uptake of new ship technologies, and multiple regulatory changes, the time is right to supercharge its bunker desk offering. Fuel constitutes a major portion of operating costs and fuel procurement is becoming increasingly complex. I am looking forward to working with pool partners to manage fuel strategies, realise efficiencies, and reduce costs.”

With the addition of Stephen Robinson, Tankers International expands another service offering, providing an additional source of knowledge and expertise that pool partners have ongoing access to. Partners also have access to its VLCC fixture app – the only publicly available source of fixture data for the global VLCC fleet.

ENDS

Tankers International welcomes Wah Kwong’s VLCC Hong Kong Spirit, taking the pool to 36 vessels

London, 18 September, 2024: Tankers International, the world’s largest shipping pool for VLCCs, has welcomed Hong Kong based Wah Kwong as a pool partner, with the Hong Kong Spirit (IMO: 9602289) joining the scrubber pool.

The Hong Kong Spirit joined the VLCC pool in September 2024. The vessel was built in 2013, maintaining the pool’s average fleet age of 11.2 years.

Wah Kwong is an integrated global vessel owner-operator based in Hong Kong. It manages a modern, efficient fleet spanning bulk carriers, crude tankers, LPG tankers, container ships, and tonnage ranging from 4,000 to 318,000 DWT. The company was founded in 1952 by T.Y. Chao and is still managed by the third generation of the Chao family. As a pool partner, Wah Kwong will access a larger and more diverse customer base and cargo portfolio, market-leading insights, and support for compliance with environmental regulations.

Charlie Grey, CEO of Tankers International, said: “Wah Kwong’s decision to join our VLCC pool is a clear signal that pooling provides tangible benefits to our partners. From improved cash flow and revenues, fairer charter party terms, plus access to a wider customer base and market intelligence, pooling simplifies a shipowner’s role. Wah Kwong contributes yet another layer of excellence to our information sharing culture between world-leading shipowners, supporting pool members with both environmental compliance as well as commercial advantages.”

Will Fairclough, Managing Director of Wah Kwong added: “Shipping is a volatile industry, and we are always striving to provide a hedge against sector risks. We have been impressed by the Tankers International team’s ability to help us take advantage of market upsides while delivering stable and regular cash flow. We look forward to collaborating with other industry-leading shipowners to ensure healthy returns, and accessing the market data and industry intelligence that comes from being part of the Tankers International Pool.”

The addition of Wah Kwong to the Tankers International VLCC pool follows the MT Felix and MT Symphony which joined earlier this year.

ENDS

A Vietnamese-based Shipping Company joins with two VLCCs, taking the pool to 35 vessels

London, 13 August 2024: Tankers International, the world’s largest shipping pool for VLCCs, has welcomed a Vietnamese-based shipping company as a pool partner, with the MT Felix and the MT Symphony both joining the pool.

The Felix joined the VLCC pool earlier this year, while an additional vessel, the Symphony, recently joined the pool early this month. These additions will bring the Tankers International Pool up to 35 vessels. Both vessels are equipped with scrubbers.

Charlie Grey, CEO, Tankers International, said: “The decision to join our VLCC pool represents a significant achievement for Tankers International. We continue to expand our economies of scale and network, further optimising the TCE for our partners.”

Grey continued: “These new additions bolster our ownership diversity and demonstrate that the pool continues to attract top-tier owners. This further improves our ability to support financial performance, providing owners with access to a larger and more diverse customer base and cargo portfolio. Our owners continue to benefit from exposure to all market cargoes and our multiple relationships across the VLCC tanker market, which gives us unparalleled access to market data and industry intelligence.”

ENDS

As the maritime industry navigates uncertain seas in 2024, including geopolitical tensions, major shipping route disruptions, supply-demand imbalance and new environmental regulations, adaptability seems to be the simple secret to survival and business success.

The very large crude carrier (VLCC) tanker sector is no exception when it comes to the multifaceted challenges the shipping industry is experiencing. To weather numerous challenges more effectively, many VLCC owners opt to join tanker pools.

Tankers International is a UK-based company with offices in London, Singapore and New York that operates the world’s largest pool of VLCCs, which has about 40 ships.

Offshore Energy spoke with Charlie Grey, Tankers International’s CEO, on how its members are doing business amid the current disruptions to shipping, environmental regulations, decarbonization and digital transformation and what challenges they are facing.

Read the full interview here!

Latest data sharing collaboration to increase transparency for market stakeholders.

London, 28th November 2023 – Tankers International, the world’s leading shipping pool for VLCCs, today announced that it will be partnering with the Baltic Exchange to further enhance data sharing and the provision of market insights for its popular VLCC Fixture app.

Paid app subscribers will benefit from access to Baltic Exchange benchmarks and forward curves in addition to the current data offering, which includes information on bunker prices, fixing rates, laycan, demurrage and commissions as well as a full breakdown of TCE calculations. Subscribers can also access cargo forecasts and receive real time fixture notifications via WhatsApp. There is also an option to receive fixture data via an API feed to integrate directly into own systems.

The data sharing agreement will provide even greater quality insight and real-time updates for app users and will continue to support market stakeholders in understanding the current developments of the global VLCC market.

First launched in 2014, the Tankers International VLCC Fixture app is the only publicly available source of comprehensive fixture data for the global VLCC fleet and provides wider market access to data that was once only provided to a select few brokers. The app has continued to expand in popularity since it was re-launched in December 2021, as more data points and market insight have been made available to subscribers.

Charlie Grey, Chief Executive Officer, Tankers International, said: “The dynamic nature of our market today means that shipowners, charterers and brokers all need quality data faster to support their decision making. Our partnership with the Baltic Exchange will enable even greater collaboration on real-time information that’s used by both our pool partners and our wider app subscriber base. Our subscribers extend to multiple stakeholders across the supply chain, from media to analysts and market investors. We’re pleased to partner with such a renowned institution regarding trading data and look forward to providing even greater insight into our sector.”

“We are pleased to welcome Tankers International as official members of the Baltic Exchange. We have been providing assessments for the tanker market for more than 25 years and continue to partner with like-minded and valued operators in the tanker sector to ensure our benchmarks remain at the heart of the global shipping industry. I look forward to many years of close dialogue with the team at Tankers International,” said Mark Jackson, CEO of Baltic Exchange.

The Tankers International VLCC Fixture App can be downloaded as an ‘in-browser’ app here.

Kuwait Petroleum Corporation joins the pool, marking growth milestone.

London, 19th October 2023 – Tankers International, the world’s largest shipping pool for VLCCs, has announced today that two VLCCs have joined the VLCC pool, with an additional vessel due imminently.

One VLCC, owned and operated by Kuwait Oil Tanker Company (KOTC), a subsidiary of state-owned Kuwait Petroleum Corporation (KPC), has joined the VLCC pool, while another vessel from KPC is expected to join later this month. Meanwhile, existing pool partner Transportation Recovery Fund (TRF) has added another vessel – the Eco Seas – to the specialist VLCC Scrubber Pool. This brings the total fleet size to 66.

With ownership in 39 ships across the product, crude, LPG, and bunker segments, KPC is a top 10 oil major with a substantial footprint in the Middle East. It will now be able to access support towards compliance with existing and future regulations and unlock efficiencies and commercial advantage through Tankers International’s pool. KPC will also benefit from enhanced charter party terms, market intelligence and a collaborative approach to data insights via Tankers International’s independent and transparent management service.

“KPC’s vessels are a significant addition to our pool’s efficient, and diversified fleet, and reflect the ambitions of the pool,” said Charlie Grey, CEO of Tankers International. “Adding KPC to the pool provides our partners access to KPC’s cargo base, as well as adding another layer of data and insights into the oil markets in the region.”

KPC commented: “We have set ourselves the target to be a world leader in marine transport, and becoming a member of the Tankers International VLCC pool will further enable us to achieve this. The pool offers a great depth of market information and knowledge-sharing opportunities amongst gold standard owners, and we are looking forward to collaborating with the other partners.”

TRF joined the Tankers International VLCC pool in June 2023 with the addition of TRF Horten. The second vessel from TRF of the Eco Seas (DWT 299,998 MT / Built 2016), will reduce the average age for the scrubber pool, enabling Tankers International to offer modern, higher-performing vessels to the industry.

Grey continued: “TRF’s addition to the pool only improves Tankers International’s ability to offer top-quality vessels to the industry. We’re proud that our professionalism and experience are reflected in their vote of confidence, and the pool will benefit from younger tonnage with better earnings distributed across the members.”

Michael Aasland, CEO of TRF Ship Management, said: “Since our first addition to the pool, we have been impressed with the team at Tankers International’s determination to deliver value. We have achieved strong financial returns in the near term, leading us to add another vessel to the pool.”

Tankers International’s specialist Scrubber Pool increases in size, reduces in average vessel age.

London, 21st June 2023 – Tankers International, the world’s largest shipping pool for VLCCs, has announced today that Transportation Recovery Fund (TRF) operated vessel the TRF Horten has joined its specialist VLCC Scrubber Pool.

The TRF Horten (297,638 DWT / Built 2018) was delivered to Tankers International on 4th June. The total size of the Tankers International fleet now stands at 65 VLCCs, and the specialist Scrubber Pool has increased in size to 37 vessels.

The addition of the TRF Horten has reduced the average age for the scrubber pool to seven years, in contrast to the industry average of 10.7 years, as a part of Tankers International’s mission to replace old and less efficient tonnage with modern and cleaner vessels.

With ownership in 19 ships in the chemical and crude segments, TRF will benefit from a transparent and cost-effective solution to maximise earnings in the spot market through Tankers International’s powerful economies of scale and unparalleled access to relationships and cargoes. TRF will also benefit from more streamlined operations, consistent cash flow, and high-level information sharing associated with Tankers International’s pooling model.

In response to the growing diversification in the VLCC fleet, Tankers International have created a number of sub-pools to reflect unique trading patterners and earning potential to ensure fair sharing of earnings and costs between similar vessel types. For instance, the Tankers International Scrubber Pool functions as a sub-pool operating from a unique financial and commercial perspective while sharing resources across the entire Tankers International fleet.

“The addition of the TRF Horten further improves our pool’s unrivalled strength and depth, delivering clear benefits for TRF and our other Pool partners,” Charlie Grey, CEO of Tankers International, said. “It also represents an exciting opportunity for us to develop a closer relationship with TRF, which offers value to the pool with its knowledge, experience, and expertise. TRF’s decision to join the pool is a statement of trust in the pool’s ability to adapt to changing markets and ensure that all partners are optimised for the future.”

Michael Aasland, CEO of TRF Ship Management, added: “We applaud Tankers International’s reputation for professionalism, trustworthiness, flexibility and service with its experienced management team and relentless focus on driving value for pool partners. We look forward to improved cash flow and revenue as part of a mutually beneficial partnership that sees strong financial returns in the near and long-term.”

The world’s leading VLCC pool continues to grow its fleet with 20 new additions since the beginning of 2022.

London, 27th April 2023 –  The leading large crude tanker pool, Tankers International, today announced the appointment of Charlie Grey as Chief Executive Officer, replacing CEO Jonathan Lee, who will become Chairman of the board of directors. Grey, who will move from his current role as Chief Operating Officer, will lead the independent organisation through its current phase of growth. Matt Smith will take up the role of COO and will continue to focus on developing voyage optimisation schemes to reduce emissions and improve performance.

Grey officially began his CEO tenure on 3 April and has played a pivotal role to date, alongside the existing board, in expanding Tankers International’s pool of Very Large Crude Carriers (VLCCs). The pool holds 64 vessels today, including an expansion of its specialist scrubber pool from 17 to 34 vessels compared to the start of 2022.

Ensuring a young average vessel age in the pool will be crucial as shipping rides the macro-economic waves, so Tankers International has replaced old and less efficient vessels with modern and energy friendly tonnage. The average age of the pool today is younger than it was at the start of 2022.

Pools have a critical role to play in the safe and transparent transportation of crude across the globe. This is especially true in a highly fragmented VLCC sector. Facing the twin challenges of the energy transition and increasing environmental regulation – shipping pools can allow smaller owners to collaborate more effectively and deliver a more efficient tanker market for all participants.

Tankers International was established in 2000 by a visionary group of tanker owners comprising, amongst others, Euronav NV and International Seaways, inc. VLCC owners who join pools amidst volatile market conditions benefit from improved cashflow and revenues thanks to proven economies of scale, access to a wider customer base, increased financial performance, fairer charter party terms, access to market intelligence and an independent and transparent management service.

The pool has vastly improved in recent years, with its unique revenue sharing methodology and its strength in scale, data, and expertise helping to drive exceptional revenues for participants. Recent developments include the establishment of a new optional climate compensation voyage programme and the continued development of the widely used Tankers International VLCC fixture app.

Charlie Grey, CEO of Tankers International, commented: “I want to thank Jonathan for the fantastic work he’s delivered over the past 10 years, which has ensured that Tankers International has maintained and grown its market-leading position. I am honoured to be able to take the organisation forward, delivering value to the pool partners, expanding our fleet, and continuing to deliver our data-led, analysis-based approach with a human touch; a formula that has served us – and our pool partners – so well.”

Lois K. Zabrocky, International Seaways Inc.’s President and CEO, commented: “Since he was appointed as COO, Charlie excelled at meeting the needs of pool partners while navigating the uncertain trends driving the VLCC market. I am personally confident that Charlie is the right person to build on Jonathan’s great work to position Tankers International for the future.”

“As a founding member over 23 years ago, we have sought the best stewardship for the leading VLCC pool,” Hugo De Stoop, CEO of Euronav NV, added. “I am confident that under his leadership, along with the support of the management team, Charlie can deliver exceptional value and competitive financial returns for all pool partners.”

Jonathan Lee, outgoing CEO of Tankers International, added: “I believe that we have built something incredible at Tankers International, and I’m very proud to have played my part in building an evolutionary new model for tanker pooling, uniquely positioned to tackle the challenges and maximise the opportunities facing VLCC owners and operators. Since Charlie joined, it has been clear to me that he is the optimal choice to lead Tankers International as it continues to grow and evolve; I look forward to supporting him.”

Updated app will provide indicative CII rating and score for every voyage fixed based on Tankers International’s world-leading VLCC market data.

London, 6th February 2023 – Tankers International, the world’s leading shipping pool for VLCCs, today announced the launch of a new CII feature for its popular VLCC fixture app, which uses Tankers International’s comprehensive market data to calculate indicative voyage CII scores for all market fixtures.

The new CII reporting mechanism uses Tankers International’s extensive knowledge of the global VLCC fleet to benchmark any vessel’s bunker consumption against the closest similar vessel out of the 250 vessels that have traded in the Tankers International pool since 2000. This is set against a benchmark speed, which adapts based on Tankers International’s own data on averages across the sector and market conditions.

Carbon Intensity Indicator (CII) regulations came into effect at the start of January 2023, and represent an ongoing annual measure of the carbon intensity of a ship’s operations in terms of its greenhouse gas emissions relative to the amount of cargo carried and the distance travelled.

The Tankers International VLCC fixture app’s new CII functionality gives shipowners, charterers, and brokers insight into where a vessel or voyage is ranked on the CII scale, helping to make strategic chartering or operational decisions.

The app’s data will show a precise analysis and a breakdown of how a voyage CII score is calculated, so a shipowner will know how their voyage is ranked and where they may need to improve. In addition, if a voyage incurred a long idle period, the app will provide two clearly labelled and accurate CII estimates to account for this. Calculations are listed in full for PLUS and PRO users.

The Tankers International VLCC fixture app was first launched in 2014 and is the only publicly available source of fixture data for the global VLCC fleet. The app was re-launched in December 2021, and the new CII feature will allow users to integrate even more quality data and analysis into negotiations and strategic decision making. This added insight and market transparency will benefit the entire VLCC sector.

Charlie Grey, Chief Operating Officer, Tankers International, commented: “Many people are still uncertain about how to keep up with shipping’s latest regulation, and we recognise the importance and need for quality data, faster to support decision making for shipowners, charterers and brokers. We foresee CII ratings impacting commercial decisions across the sector this year, and providing access to this voyage specific CII information will support key market stakeholders – helping them adhere to decarbonisation regulations and recognise market trends more quickly.”

The Tankers International VLCC fixture app can be accessed directly from any web browser as an ‘in-browser’ app here.