SKS Tankers Holding (SKS), a subsidiary of Norway’s Kristian Gerhard Jebsen Skipsrederi (KGJS), and Greentankers Holding, a subsidiary of funds managed by Hayfin Capital Management, have formed a partnership for owning LR2 product tankers.
The partnership will start with a fleet of ten tankers previously owned by SKS, owned under a joint venture structure. The vessels will be operated by SKS via SKS Pool, with KGJS acting as commercial and corporate manager.
Geir Mjelde, CEO of KGJS, commented: “We are very pleased to announce this new joint venture with Hayfin. It follows KGJS’ tradition of teaming up with partners for key activities. Going forward, the shipping industry faces major challenges in terms of technology development and decarbonization. Tackling these challenges demands scale and depth of competence. With the expertise built up in KGJS over many years and partnering with a major shipping investor such as Hayfin, we can ensure that SKS is in the best possible position to deal with future demands within the product tanker segment.”
Andreas Povlsen, managing director and head of maritime funds at Hayfin, said: “Any success in the maritime sector is predicated on establishing and maintaining strong partnerships across the sector. We have worked with the SKS team for a long time and their focus on excellence, alignment and quality operations is exactly what we are looking for in such a partnership. This joint venture provides us with exposure to high-quality assets in a market with attractive growth prospects. We look forward to working closely together to grow the fleet further with a clear focus on using all available tools to decarbonize any assets under our joint control.”
KGJS currently owns and operates a fleet of 28 vessels made up of tankers, bulkers and cement carriers.