Norway's Hansa Tankers has posted a significant revenue jump in its latest annual report as it boosted its the fleet operated in its chemical tanker pool.
The Bergen-based chemical tanker operator has reported $309m in revenue for 2019, a 33% increase from 2018.
The improvement comes on the back of fleet expansion that has given the operator a total of 43 chemical tankers controlled by seven different partners in its pool. All pool profits are sent back to the partners.
Hansa chief executive Hans Solberg said no pool members have left the pool unless they have sold ships. It was set up 10 years ago.
The latest additions to the fleet include five tankers from Arne Blystad’s Songa Shipholding and five from Wilbur Ross’ Transport Recovery Fund (TRF).
Also, joining in 2019 were three ships that Norway's Tailwind Management bought alongside a consortium of investors.
Solberg said revenue in the first half of 2020 is expected to come in at some 12% higher than in the same period last year, and earnings are now in line with the average that Hansa has achieved since it was set up.
“A couple of ships were for a while in two other pools, but the owners returned them to us, which we take as a confirmation of them being pleased with what we delivers,” Solberg said.
Hansa Tankers is one of the leading players in the stainless steel tanker segment, operating its fleet with the goal of beating spot market earnings.
The company's vessels are between 19,900 dwt and 33,000 dwt in size.
The outfit has ships from Bjarne Rieber-controlled Inventor Chemical Tankers, Nisshin Shipping, Midgard Shipping, K Line, Marnavi and Doun Kisen, among others.
Almost half the fleet are equipped with exhaust gas cleaning =systems known as scrubbers.
