Tanker giant Hafnia and trading powerhouse Mercuria are embarking on a groundbreaking initiative, introducing the Hafnia Panamax Pool, a collaborative venture set to operate Ten Panamax Tankers Worldwide. This strategic move aims to address the challenges posed by an aging vessel segment, with the committed vessels averaging 13 years in age.
In this formidable partnership, Hafnia, based in Singapore, and Mercuria, headquartered in Geneva, are unwaveringly committed to the success and continuous growth of the Hafnia Panamax Pool. The joint commercial operation, slated for launch in March, will harness the comprehensive expertise and resources of both entities, delivering operational and commercial excellence within the panamax tanker sector.
Søren Skibdal Winther, Vice President of Commercial at Hafnia, expressed confidence in the venture, stating, “With this venture, we look forward to leveraging our combined expertise, and are confident that customers and partners will see immediate and obvious advantages,”
Larry Johnson, Global Head of Freight and Shipping at Mercuria, highlighted “As Charterers ourselves, we have noticed a deficit of modern tonnage in this segment, and we are delighted to team up with industry-leading tanker owner and pool operator Hafnia in our efforts to service this need.”
Hafnia contributes a fleet of 10 panamax-sized LR1s, built between 2008 and 2017, to this partnership. While further details on growth plans are pending, the collaboration with Mercuria is positioned to capitalize on the extensive expertise and resources of both companies.
Mercuria, a Geneva-based entity, enriches this collaboration with ownership of a suezmax and a small clean tanker, showcasing a diversified portfolio in the shipping industry.
Scheduled for a March launch, the Hafnia Panamax Pool aims to counter the decline in the panamax tanker fleet. With only 74 crude panamaxes remaining, mostly predating 2010, and an additional 380 clean LR1s, the pool presents a modern and committed fleet poised to meet market demands.
Hafnia, already managing pools for handysize, chemical tanker, LR2, MR, and specialized smaller tonnage, is strategically positioned to expand its presence in the shipping industry through this alliance. The collaboration signals a concerted effort by Hafnia and Mercuria to capitalize on market opportunities and fortify their positions in the dynamic global shipping landscape.
As the panamax tanker fleet experiences a decline, the Hafnia Panamax Pool, with its modern and committed vessels, anticipates making a substantial impact on the market. The venture marks a pivotal move by Hafnia and Mercuria to seize opportunities and navigate the evolving dynamics of the global shipping industry.
About Hafnia
Hafnia stands as the largest operator of product and chemical tankers, managing a fleet of over 200 vessels. Offering a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker desk, Hafnia operates with a “People First” culture, emphasizing environmental, social, and governance (ESG) considerations.
About Mercuria
Mercuria, a leader in trading and supplying physical commodities, stands as one of the world’s largest privately-owned businesses. With operations in over 50 countries, Mercuria specializes in strategic asset investments, financing, logistics services, and solutions to meet clients’ diverse needs, including net-zero goals. Over the years, Mercuria has evolved strategically, investing in sustainable energy projects and leading initiatives focused on environmental, social, and governance (ESG) considerations.
Founded in 2004, Mercuria remains independently and privately owned, with a global presence and a commitment to advancing the energy transition. Co-founders Marco Dunand and Daniel Jaeggi bring nearly 40 years of collaborative experience to drive Mercuria’s success in the energy and commodity trading sector.
Source Hafnia