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Euronav, Diamond S Shipping and Frontline in joint venture

Staff writer |
Euronav announced the formation of a commercial joint venture with Diamond S Management and Frontline. The aim is to create a single point of contact for cargo owners to access a large fleet of 43 Suezmax vessels, operated on the spot market.

The joint venture will be named Suezmax Chartering. A larger fleet will provide more flexibility and more options for cargo owners, reduce voyage related expenses through optimisation of voyages and thereby reduce greenhouse gas emissions as a direct consequence of using less fuel for cargo movements.

The joint venture will commence operation today from the existing offices of Euronav, Diamond S and Frontline Management AS.

Paddy Rodgers, CEO of Euronav, said: “I am delighted to start this exciting marketing venture in the Suezmax sector with Diamond S and Frontline. All three companies’ management share a similar vision in bringing greater transparency to what is a highly fragmented industrial structure. We look forward to working closely with our partners in this initiative.”

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