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Anglo-Eastern to partner Teekay in giant ship management deal

Hong Kong: Hong Kong's Anglo-Eastern Ship Management and tanker operator Teekay have formed a strategic partnership.

The tie-up, which is one of the world's biggest deals between an independent ship management company and a shipowner, is set to create a joint ship management firm that will manage about 50 of Teekay's conventional oil tankers comprising about a third of its total fleet of about 150 ships.

It was reported that the new company will be Teekay majority-owned and operate under a Teekay name. Most of the staff will also come from Teekay but key positions and some of the board composition will come from Anglo-Eastern in order to facilitate proper transfer of management know-how. 

Anglo-Eastern ceo Peter Cremers and coo Marcel Liedts were cited as saying in a note to clients: "We have entered into a strategic partnership with Teekay Corporation, via a memorandum of understanding, through which we will assist Teekay in evolving their ship management activities in a stand-alone, cost competitive company, using tested Anglo-Eastern Group systems. As a part of this alliance, the crew management and training logistics for Teekay seafarers will be integrated with Anglo-Eastern Group companies."

The joint operation is expected to have its own offices in Glasgow and Singapore, where Anglo-Eastern's current tanker management operations are based.

TAGS: Company
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