George Economou’s Heidmar and Ioannis Martinos’s Signal Maritime Services have agreed a partnership which will see Signal take on the commercial management of all 18 aframax tankers in Heidmar’s Sigma Pool.
Signal will manage the fleet using its artificial-intelligence-backed pool management platform, which it says has consistently delivered superior earnings since its launch in 2018. The vessels will join the Signal Maritime Aframax Pool with immediate effect.
Signal will also be working with Heidmar to assist with the management of the LR2 vessels in the Sigma Pool, the suezmaxes in the Bluefin Pool and the VLCCs in the Seawolf Pool, with the vessels all remaining within their existing pools.
Commenting on the partnership, Martinos said: “We are excited to join forces with Heidmar and look forward to bringing a stronger and better service to the market through this collaboration. 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.”
Economou added: “Digitalization 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.”