Photo: Capital Ship Management

Heidmar, Capital Ship Management form joint venture

Capital Ship Management Corp. and Heidmar Inc have formed a joint venture combining the commercial strengths of the two organizations in the tanker industry.

As informed, all 32 tankers managed by Greek company Capital will be joining pools operated by compatriot tanker poll management company.

Image Courtesy: Capital Ship Management

Following the formation of the joint venture, Heidmar will operate approximately 60 crude, product and chemical tankers ranging from 10,000 dwt to VLCCs. The ships will be operated from Athens, London and Singapore.

Heidmar will operate the following Pools: SEA DRAGON (VLCCs), BLUEFIN (Suezmaxes), SEA LION (Aframax/LR2), DORADO (MR2s), MARLIN (MR1s) and SEA HORSE (10-19,999 dwt).

“I am extremely pleased to announce today the joint venture with Capital and the relaunching of the Heidmar brand… Overall, we have worked hard since November 2020 to rejuvenate the Heidmar fleet from 7 to almost 60 tankers today,” Pankaj Khanna, CEO of Heidmar Inc commented.

“The addition of the talented Capital commercial team to the Heidmar team will create a strong engine to extract the best performance from the assets under management in a challenging and dynamic tanker market. The challenges facing ship owners are myriad and the benefits of consolidation are well established.”

“Heidmar has been at the forefront of the move to digitalization, having developed the first in-house platform 18-years ago. eFleetwatch was relaunched again last year with many enhancements and is already capturing data for the monitoring of CO2 emissions from our managed ships. Participating in the market via a larger commercial entity also means that we can develop effective solutions to meet the challenge of reducing emissions and complying with the upcoming regulations,” Khanna concluded.