Broström initiates new tanker cooperation

Maersk Tankers-owned Broström has initiated a new tanker cooperation with the Swedish owners Erik Thun AB, Rederi AB Gotland and Wisby Tankers AB to strengthen its 5,000–10,000 DWT segment portfolio, Shipgaz reports. Last year Broström added three vessels to its small portfolio. The Swedish-based tanker operator will add further four vessels in the period March–April: Med Baltic, 8,269 DWT, Wisby Wave, 7,478 DWT, Red Teal, 6,874 DWT and Alice, 6,843 DWT. Broström will thereby run a fleet of 18 tankers in the smaller segment in Europe. “We are expanding the small product tanker fleet to provide enhanced flexibility and a reliable service to our clients. The design and quality of the new vessels is a perfect fit with our commercial strategy for this segment”, says Robert Uggla, CEO of Broström, to Shipgaz. Over the last year, Broström has also expanded its commercial offerings in the intermediate product tanker markets with Tärntank Rederi AB and Harren & Partner Ship Management GmbH & Co joining Broström’s TCSA pool. Many tanker operators faced harsh market conditions in 2009 and 2010 due to over capacity and low rates. Broström’s owner Maersk Tankers is one of the struggling owners. The company posted a USD 118 million loss, primarily due to write downs. “Maersk Tankers operates under very difficult market conditions and freight rates are below break-even for most segments at the beginning of 2011”, the company stated in the 2010 report. However, Broström’s smaller tanker segment is doing quite well financially, according to Robert Uggla. Robert Uggla is reluctant to speculate too much about the 2011 market conditions, but admits the times are challenging. “The winter has had a positive impact on utilisation levels and freight rates, but the outlook for the rest of the year is rather bleak.” (Source:http://en.portnews.ru)