Hartree, Hunter Group to Form Scrubber-Fitted VLCC Pool

Hartree Maritime Partners LLC revealed plans to set up a new pool of scrubber-fitted very large crude carriers (VLCCs) with Oslo-listed Hunter Group ASA.

The joint fleet would be made up of eleven eco VLCC vessels.

“By combining Hartree’s global trading and chartering experience and Hunter’s technical knowledge this pool will serve to minimize operational costs whilst maximizing earnings. We will be working with other scrubber fitted VLCC operators to expand this pool,” says Guy Merison, managing director of Hartree Maritime Partners.

The intentions were revealed as Hartree announced the appointment of Hunter Group as their senior technical advisor for the company’s newbuild program comprising four very large crude vessels.

The ships are set to be constructed at Daewoo Shipbuilding & Marine Engineering (DSME), between November 2018 and April 2020. Under the contract, Hunter is expected to ensure that the Hartree vessels are identical to Hunter’s VLCCs to the maximum extent possible.

“ We believe this agreement will provide both companies with significant cost savings and synergies. Our experienced technical team is now responsible for the building supervision of 11 sister vessels all to be constructed at DSME between October 2018 and August 2020,” says Erik Frydendal, CEO of Hunter Group.

Hunter has seven 300,000 dwt VLCC newbuilds under construction at the yard, scheduled for delivery in 2019 and 2020, and options to build three more.

In September, the company extended the option agreement for three crude carriers until October, 2018. If ordered, the additional three 300,000 dwt ships would be delivered in the first half of 2021. Hunter Group is to pay USD 92 million per unit.