Two of the world’s largest operators of product tankers, Norden and Diamond S Shipping, have created a strategic partnership, DiaNor, in a bid to facilitate the commercial consolidation of the product tanker industry.
Diamond S will initially contribute 28 MR2 product tankers to the endeavour, which will be marketed and operated through the Norient Product Pool (NPP). Diamond S also intends to contribute its existing in-house commercial expertise in the product tanker space to the global network of NPP. With the contribution of DiaNor ships, the Norient Product Pool will manage approximately 150 tankers and become one of the largest operators of MR product tankers in the world.
Craig Stevenson, CEO and president of Diamond S, commented: “We are pleased to further continue the much-needed consolidation of the tanker industry.”
“We are convinced that the scale created by the combined fleets as well as the people competencies will create great value to our stakeholders,” said Søren Huscher, head of tankers at Norden.