For the Navig8 group, it’s quite a coup in the suezmax sector.
For Heidmar, it’s even worse than first suggested.
Navig8 announced today that its Suez8 pool is taking commercial management of eight Ridgebury Tankers suezmaxes previously in Heidmar’s Blue Fin pool.
Talk of further hits to Heidmar pools had begun to seep out Monday, when TradeWinds reported the Connecticut outfit faced withdrawals of four Zodiac Tankers VLCCs and three of the eight Ridgebury suezmaxes in Blue Fin, citing market sources.
The reality turned out to be worse, at least on the Ridgebury front.
The withdrawals cut Blue Fin’s fleet to 13 from 21 vessels, according to the Heidmar website.
And if the Zodiac ships follow, Heidmar’s overall numbers drop to 44 from 56 vessels, a 21% reduction.
But as Navig8 noted in today’s announcement, the Suez8 pool doubles to 16.
“The agreement will significantly increase Navig8’s positioning within the segment,” the company said.
Spokesmen for Heidmar, Ridgebury Navig8 and Zodiac have not immediately been available for comment.
Navig8, headquartered in London, describes itself as the world’s largest independent pool and commercial management company.
Westport, Connecticut-based Ridgebury is led by chief executive Bob Burke and owns a fleet of suezmaxes, VLCCs, medium-range (MR) and handysize product tankers.
Ridgebury recently made headlines with its sale of three 18-year-old VLCCs for a premium price of $98m.
The Ridgebury suezmaxes are Ridgebury Alina L, Ridgebury Astari, Ridgebury Captain Drogin, Ridgebury John Zipser, Ridgebury Lessley B, Ridgebury Lindy B, Ridgebury Mary Salena and Ridgebury Nicholas A. They were built between 2001 and 2017.
Heidmar, based in Norwalk, Connecticut, became 100% owned by Greek shipowner George Economou and his DryShips in June.
It has had a significant pooling presence in the VLCC, suezmax and aframax sectors, but has fought steady attrition in its numbers over the last two years.
