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Signal, Heidmar Join Forces on Tanker Fleet

Image: Heidmar

Laxman Pai

Greek commercial ship management company Signal Maritime Services and tanker vessel trader Heidmar join forces to deliver commercial management to the global tanker market.

Both companies have agreed a milestone partnership, under which Signal will manage a joint tanker fleet using its proprietary technology and analytical approach, said a press release.

Signal's Artificial-Intelligence-backed solution to pool management has consistently delivered superior earnings to its pool members since its launch in 2018.

Commercial management of 18 Aframax vessels in Heidmar's Sigma Pool will be handled by Signal with immediate effect, with a transition period of one month.

Signal will also be working with the Heidmar team to manage the LR2 vessels in its Sigma Pool, the Suezmax vessels in the Bluefin Pool and the VLCC vessels in the Seawolf Pool. The vessels within these pools will remain within their existing structures, but benefit from access to Signal's capabilities.

Athens headquartered Signal Maritime Services is a commercial ship management company with a twist, bringing together shipping best practice with internet-age advanced analytics and management methods. The company is focused on producing responsive, high-performance and sustainable commercial management for a growing, modern fleet.

Founded in 1984, Heidmar Inc. is one of the world's leading commercial tanker operators with a fleet of about 50 vessels, including VLCC, Suezmax, Aframax/LR2 and Panamax tankers entered into its pools by 20 separate companies.

From its offices in Singapore, London, Houston and Connecticut, the company's focus has always been commercial performance, pool management, reporting and compliance.

Ioannis Martinos, the CEO at Signal Group said: "We are excited to join forces with Heidmar and look forward to bringing a stronger and better service to the market through this collaboration. Signal has delivered leading performance since its launch in 2018, through a highly driven team and an expertly-used technology solution. We are confident that the combination of the Signal team and our technology will continue delivering a strong performance for all our pool partners."

George Economou, shareholder of Heidmar said: "Digitalization and consolidation are a theme of today's market and a necessity to provide relevant and superior customer service. The pooling business is highly competitive and we believe the combination of Signal's technology with a sizable fleet will provide the right mix for a successful pool."

Jan 6, 2020

 

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