Shell Tankers (Singapore) has signed a partnership agreement with ship management company Signal Maritime placing ten Medium Range (MR) product tankers into the company’s MR pool.
The company was an early adopter of the Signal Ocean platform in product tankers and the duo said they expect digital technology to help improve commercial results through the MR pool structure and other potential synergies.
In line with the shipping industry’s decarbonisation efforts, Shell and Signal have also joined forces to collaborate on carbon emissions reduction initiatives.
They will investigate further synergies and pooling opportunities in other tanker segments, as revealed by Signal Maritime.
Commercial ship manager Signal Maritime expanded its services by launching a new pool for MR product tankers in May 2021.
The move followed the success of its Aframax pool, which has been running since 2018 and consistently delivering good results, according to the company.
“Plans for further expansion of the pool with select partners are in progress, following the initial launch of the pool with vessels from Astra Shipmanagement and Signal.”
Last month, Shell Tankers inked new charter agreements with Knutsen LNG, Pan Ocean Co. and investors advised by J.P. Morgan Asset Management for six liquified natural gas (LNG) ships, bringing its LNG carrier fleet to a total of 24 vessels.