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N2Tankers Aframax Pool Gets Underway

German shipowner Reederei Nord and Singapore-based ship manager Synergy Group, on behalf of Nissen Kaiun, have launched N2Tankers, a new Aframax tanker pool.

The pool has been set up as a joint venture, and it consists of 13 Aframax tankers, built between 2007-2018 by Japanese yards.

Synergy has been entrusted with commercial management of N2Tankers for vessels deployed East of the Suez Canal and will also provide technical management services for Nissen Kaiun’s vessels in the joint venture on a global basis.

“N2Tankers brings together two of the most renowned owners in world shipping in a sector of the tanker market that has seen a lot of consolidation in recent years,” Capt. Rajesh Unni, CEO and Founder of Synergy Group, said.

The duo said that the combined fleet will be further expanded as Nissen Kaiun and Reederei Nord are currently seeking out Aframax owners who would be interested in joining the N2Tankers pool.

However, the pool’s size will be limited to 20-30 vessels to optimise cost efficiency and competitiveness.

“The two offices in Amsterdam and Singapore will be in fact the extended commercial department of the shipowners – Singapore managing the ships in the East, Amsterdam the ships in the West,” Adriaan Rüppell, Managing Director Reederei Nord B.V, said.

“We will actively be seeking like-minded owners to become our partners.”

“We are confident that managing the pool as a joint venture with commercial and technical ship management clearly aligned in the most cost-effective and efficient manner possible will help attract in additional ships to further bolster the effectiveness and competitiveness of N2Tankers,” said Captain Katsuya Abe, President of Nissen Kaiun.