Tankers International Expands into Suezmax Market

By Chris Stiles • Tuesday, January 27 14:59 • Permanent Link

Tankers International, a leading shipping pool, has announced its expansion into the Suezmax market, providing adaptability for customers and partners by offering multiple transportation solutions in today's dynamic market. This move comes as International Seaways acquired sole ownership of Tankers International and extended its coverage beyond the VLCC market to include Suezmax vessels.

The expansion allows Tankers International to support its charterers and partners with a more diverse group of assets, operational efficiency, and a broader cargo base across crude transportation markets. The addition of a dedicated Suezmax pool provides greater flexibility to secure cargoes across similar crude movements, expanding optionality to routes beyond those accessible to VLCCs.

Tankers International's Chief Executive Officer, Charlie Grey, emphasized that while VLCCs will remain a cornerstone of their operations, the expansion into the Suezmax market addresses the overarching need for greater agility and flexibility amid a rapidly changing global marketplace. This strategic move is set to provide access to more data and additional insights for pool members, ultimately enhancing the company's ability to maximize earnings potential.

Lois K Zabrocky, Chief Executive Officer of International Seaways, expressed excitement about Tankers International's expansion into the Suezmax sector, emphasizing the highly attractive opportunities it creates going forward. With Tankers International being one of the largest pooled fleets of modern VLCC and Suezmax vessels in the world, this expansion is expected to enhance the company's position in the global energy industry.

Tankers International's expansion into the Suezmax market represents a significant milestone in the company's strategic growth plan, offering a broader range of transportation solutions and positioning the company for a new, exciting phase. Following these announcements, the company's shares moved 1.06%, and are now trading at a price of $56.37. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.