N2Tankers Aframax tanker pool launched by Reederei Nord and Synergy Group

Reederei Nord and Synergy Group, on behalf of Nissen Kaiun, have officially launched N2Tankers, a new Aframax tanker pool the two shipowning companies have set up as a joint venture.

N2Tankers brings the shipowning and operational expertise of Nissen Kaiun and Reederei Nord under one central umbrella administration for the first time. It will focus on generating commercial and technical management efficiency benefits for clients and owners by streamlining fleet operations and improving vessel financial performance.

The combined fleet currently pooled under N2Tankers consists of 13 state-of-the art Aframax tankers built to the highest standards over 2007-2018 in Japanese yards Universal Shipbuilding Corporation, Sumitomo Heavy Industries Marine & Engineering Co., Tsuneishi Holding Corporation, Sumitomo Heavy Industries and Tsuneishi Shipbuilding Co.

Singapore-based ship manager Synergy Group has been charged 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.

Capt Rajesh Unni, CEO and Founder of Synergy Group, said: “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. We are delighted we have been entrusted with management of the pool’s state-of-the art, modern tankers all built to the highest quality.

“This is recognition of our unique ability to meet the commercial and technical ship management requirements under one roof for the most demanding owners.”

The fleet will be further expanded, with Nissen Kaiun and Reederei Nord currently seeking out similar-minded owners of top quality Aframax tankers to join the N2Tankers pool. The pool’s size will be limited to 20-30 vessels to optimise cost efficiency and competitiveness.

“Our two companies have earned themselves outstanding reputations for the world class efficiency and reliability of their fleets,” said Captain Katsuya Abe, President of Nissen Kaiun. “I believe our clear focus on our customers’ requirements will satisfy the needs of both cargo and tonnage owners, with the fleet providing operational flexibility for cargo owners, and voyage expenses falling due to the optimisation of vessel selection based on proximity to cargo.

“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.

“We are also delighted that Synergy Group, a long-term ship manager partner of Nissen Kaiun, is bringing its experience and expertise to this new venture. We fully expect N2Tankers to quickly be recognised as the world’s leading Aframax tanker pool.”

Adriaan Rüppell, Managing Director Reederei Nord, said the focus of the commercial platform of N2Tankers would be purely on servicing the requirements of customers – cargo and tonnage – safely and efficiently.

“We will operate the platform based on aligned interest and clear incentives,” he added. “There will no third-party commercial interest to interfere with the best interests of the owners of the ships and the platform.

“The two offices in Amsterdam and Singapore will be in fact the extended commercial department of the ship owners – Singapore managing the ships in the East, Amsterdam the ships in the West.

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