OSM Maritime Group has secured a deal to manage five shuttle tankers for Transpetro in a move that will double its fleet in the sector, sources said.
The Bjorn Tore Larsen-backed company, in which Oaktree Capital Management is now a major shareholder, has taken on full technical management of the quintet, which are trading in Brazil.
It is believed to be the company’s first contract with Transpetro. However, it does have three trading shuttle tankers and two newbuildings already under management.
OSM Maritime Group chief executive Geir Sekkesaeter declined to comment when contacted by TradeWinds this week.
It has a fleet of around 500 ships under management and 11,000 employees around the world. The company is best known for its management of offshore assets, with the sector accounting for around half of its business.
Tankers are the second-largest business area at around 30%, with dry bulk providing a further one-fifth, according to public data on OSM Maritime Group.
Transpetro, the shipping division of Petrobras, has a fleet of more than 40 ships, which are today worth $807m, according to data from VesselsValue.
Oaktree bought into OSM Maritime Group this summer at a time when institutional investors were showing a stronger interest in shipping-service businesses.
The US financial heavyweight controls a 49% stake in the company.
OSM Maritime Group was established in Norway in 1989 but has since expanded internationally, with its holding company headquartered in Limassol, Cyprus.
