Hartree and Hunter to form pool of scrubber-equipped VLCCs

OCTOBER 24, 2018 — With the IMO global sulfur cap looming, Hartree Maritime Partners LLC and Hunter Group ASA plan to form a new pool of eleven scrubber-fitted VLCCs and will work with other operators of similar tonnage to expand the pool.

Hunter Group is an investment company listed on the Oslo Axess (Tickercode HUNT) that has ordered seven identical VLCCs at Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) in Korea, all fitted with scrubbers from Wärtsilä, to be delivered in late 2019 and early 2020.

Hartree has appointed Hunter as its Senior Technical Advisor to provide technical newbuild supervision services for four VLCC vessels to be constructed for Hartree at DSME between November 2018 and April 2020 and to use its best efforts to ensure that the Hartree Vessels and the Hunter Vessels are identical to the maximum extent possible.

“Hunter Group is very pleased to have been given the opportunity to provide newbuilding supervision services to Hartree. We believe this agreement will provide both companies with significant cost savings and synergies. Our experienced technical team is now responsible for the building supervision of 11 “sister vessels” all to be constructed at DSME between October 2018 and August 2020. Hunter Group ASA is also very pleased to have found a partner that shares the same high standards in business practices and we look forward to working with Hartree on this venture,” says Erik Frydendal, CEO of Hunter Group.

“Hartree Maritime Partners LLC is equally pleased to be working with Hunter Group ASA in provision of technical newbuild supervision for the construction of the eleven sister DSME VLCC vessels. It is Hartree and Hunter’s intention to form a new scrubber fitted pool to operate this fleet of eleven eco VLCC vessels. By combining Hartree’s global Trading and Chartering experience and Hunter’s technical knowledge this pool will serve to minimize operational costs whilst maximizing earnings. We will be working with other scrubber-fitted VLCC operators to expand this pool,” says Guy Merison, managing director of Hartree Maritime Partners.