Euronav, Diamond S Shipping and Frontline in joint venture
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.” ■