UK-based Navig8 Group has signed its first pool management deal with Spanish shipowner Ibaizabal Tankers.
Getxo-based Ibaizabal has placed its 150,000-dwt suezmax Monte Toledo (built 2004) in Navig8's Suez8 pool this month.
"We are pleased to welcome Ibaizabal Tankers and the latest addition to our growing Suez8 pool," commercial operator Navig8 said.
Ibaizabal has six other suezmaxes — one built in 2012 and the others in 2018 and 2019 in Spain and China. There are two smaller bunker tankers in the fleet.
The Spanish group, which has had links to shipping since the 1860s, also operates 22 tugs and five offshore support vessels.
Ibaizabal has been contacted for further information on future fleet plans.
Rapid expansion
The Suez8 operation now has 17 ships, built between 2001 and 2020, all operating in the spot market.
Last month, Nicholas G Moundreas group company NGM Energy added the 157,000-dwt newbuilding suezmax Bella Ciao to the pool.
The ship was delivered this summer from New Times Shipbuilding in China.
NGM was also a new partner for Navig8.
The Suez8 pool has been expanding rapidly over the last year, thanks to deals with US owner Ridgebury Tankers and Swiss trader and owner Trafigura.
In June, Navig8 confirmed it was taking over seven vessels controlled by Trafigura through a combination of pool membership and time charters.
The vessels are a VLCC, three suezmaxes, an aframax and two LR2s.
This deal was Navig8's biggest addition since the capture of eight Ridgebury suezmaxes last year.
In September, the group said it had also added the 75,000-dwt LR1 tanker Red Eagle (built 2011) to the LR8 pool.
The owner is Adhart Shipping of Singapore, another new partner for Navig8.
