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New Gunvor shipping jv orders six product tankers

Commodities trading house Gunvor Group has partnered with the Dragnis family and Maas Capital in a new joint venture that has ordered six scrubber-ready tankers in Korea.

ClearOcean Tankers, incorporated in Cyprus, is a joint venture formed by Gunvor, Dragnis family owned Oceangold Tankers and Maas Capital Shipping. Each partner company holds an equal share in the venture.

ClearOcean Tankers has ordered four MR2 product tankers from STX Offshore & Shibuilding, and two LR2 product tankers from Daehan Shipbuilding. The eco-friendly, scrubber-ready vessels are due for delivery in first half 2019.

Gunvor's shipping division Clearlake Shipping is taking the newbuilds on long term charter.

“Expanding into vessel ownership and taking advantage of the historically low shipbuilding prices to contract eco-friendly, scrubber-ready newbuilding tankers represented an attractive opportunity,” commented Jan Andersen, head of shipping for Clearlake.

“Teaming up with solid partners like Oceangold Tankers and Maas Capital enables us to control more vessels and to de-risk our investment.”

The joint venture could expand further in future with more newbuilds, resales or secondhand purchases.

John Dragnis, coe of Oceangold Tankers, said: “We are delighted with the establishment of a unique partnership that brings together one of the largest charterers of product tanker vessels in the world with in-depth market knowledge, a ship owning and management group with unblemished track record and a financial investor with a longstanding track record in the shipping industry.

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