MOL, Partners Pen MR Pool Deal

Mitsui O.S.K. Lines (MOL), Asahi Tanker Co., Ltd., Ultranav International S. A., and OSG International, Inc, Ltd. have signed an agreement governing the formation of a new mdium range product tankers (MR) pool, MOL announced.

The new pool named “Clean Products Tankers Alliance” will operate a combined fleet of around 60 MR vessels, ranging from 45,000 to 55,000 deadweight ton.

Ultranav, headquartered in Santiago will operate IMO-type vessels, mainly for the Americas trade out of their office in Miami, and MOL whose main operations are in Tokyo, Singapore, London, and Houston, will operate other vessels for worldwide trade, based on the announcement

IMO-type vessels can carry petroleum products, easy chemicals, vegetable oils, and other cargoes.

“The joint pool agreement will enable more efficient arrangement of vessels, allowing the flexibility to meet diverse customer needs with reliable, high-quality ocean transport service,” MOL said.

Press Release