The agreement will see Signal use its proprietary technology and analytical approach, or Artificial Intelligence-backed solution, for the commercial management of the tankers.
Signal’s Artificial-Intelligence-backed solution to pool management has consistently delivered earnings to its pool members since its launch in 2018.
George Economou, shareholder of Heidmar, said: “Digitalisation 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.”
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.
Heidmar has a fleet of about 50 ships including VLCCs, suezmaxes, aframaxes/LR2 and panamaxes entered into its pools by 20 separate companies.
Ioannis Martinos, ceo at Signal Group, commented: “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.”
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