Tankers International has picked up a defector from Navig8.
Hong Kong-based Wah Kwong joined Tankers International as a partner this month, the pool announced on Wednesday, adding its 318,700-dwt Hong Kong Spirit (built 2013) to the fleet.
“Wah Kwong’s decision to join our VLCC pool is a clear signal that pooling provides tangible benefits to our partners,” Tankers International chief executive Charlie Grey said.
“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.”
The pool lauded Wah Kwong’s diversified fleet, with a fleet spanning bulkers, gas carriers and box ships in addition to tankers, and longevity in the shipping industry having been founded in 1952.
It added that the Hong Kong Spirit helps maintain an average fleet age of 11.2 years.
“Shipping is a volatile industry, and we are always striving to provide a hedge against sector risks,” said Wah Kwong chief executive Will Fairclough.
“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 Hong Kong Spirit is 50% owned by Teekay Tankers.
It previously appeared in the fleet of Navig8’s VL8 pool, joining the operation in 2018.
The vessel is one of three VLCCs listed in Wah Kwong’s fleet, alongside the 308,000-dwt CS Hunan Venture (built 2021) and the 297,000-dwt Trikwong Venture (built 2012).
Neither appear to be managed by pools.
