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Gunvor looks to bolster shipowning division

Gunvor looks to bolster shipowning division

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Oil trading giant Gunvor Group is looking to boost the fleet size of its shipowning division, Clearlake Shipping, likely in partnership with other owners.

Speaking with Reuters, Gunvor’s founder Torbjorn Tornqvist said he was looking at adding more product carriers and LPG carriers to the Clearlake fleet.

Gunvor recently took on Jan Andersen, formerly the head of Glencore’s shipping arm ST Shipping, to overhaul and strengthen Clearlake.

In July, Gunvor signed with New York-listed shipper Top Ships for a 50/50 venture for two new products tankers.

Gunvor has since entered into similar agreements for 10 other ships with more under discussion.

“We are in partnership with a few shipowners and managers and we have ordered ships and we are looking at this segment,” Tornqvist told Reuters.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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