Heidmar chief executive Pankaj Khanna says he has taken full control of the shipmanager and tanker pool operator, which starts a new life with a fleet of about 15 oil carriers.
“I am pleased to announce the acquisition of Heidmar, a brand that is well known in the industry with a 36-year history in providing innovative services to the shipping industry," Khanna said in a statement on Monday.
Heidmar, previously fully controlled by Greek owner George Economou, was believed to be heading towards full shutdown earlier this year.
Khanna, however, said he has been "quietly rebuilding" the company's management platform to reach a fleet of 15 tankers. He did not disclose which vessels the company currently manages, other than to say that they are VLCCs, suezmaxes and LR2s.
TradeWinds understands that a few of them are managed by aframax operator Signal Maritime, with which Heidmar set up a joint venture in January. That cooperation is still running and Heidmar is understood to have taken a stake in Signal.
Heidmar's VLCCs and suezmaxes, however, are managed separately.
"After considerable investment we have launched a new version of our much-liked eFleetWatch system, which continues to be the industry leading tool/portal for the commercial management and operations of tankers and bulkers," Khanna said.
Economou no longer plays any role in the company.
"Mr. George Economou, any and all of his related parties or affiliates have no interest whatsoever in Heidmar or any related company going forward," the statement added.
"Now as an independent company, committed to transparency and commercial capabilities that Heidmar has been known for, we plan to rebuild Heidmar as a focused services company, specializing in the commercial management of tankers," Khanna said.
TradeWinds understands that Heidmar has kept on a staff of about 15, headquartered in Athens and with offices in Singapore and London.
It is "actively looking" to hire three to four more employees over the next weeks.
"Heidmar’s resurgence would not have been possible without our loyal partners and charterers who have trusted us and stood by us through the challenges of 2020 and continue to have faith in what we bring to the table," Khanna said.
"I would like to express my sincere gratitude to them all. Finally I would like to thank the Heidmar employees who have worked exceptionally hard, kept the faith and brought us to this point. We will rebuild the company together."
