Signal Maritime, Heidmar Partner Up on Tanker Management

Ship manager Signal Maritime Services and tanker operator Heidmar have entered into a partnership for the commercial management of a tanker fleet.

Under the agreement, Signal will manage a joint tanker fleet using its proprietary technology and analytical approach.

As informed, the commercial management of 18 Aframax vessels in Heidmar’s Sigma Pool will be handled by Signal with immediate effect, with a transition period of one month.

Signal will also be working with the Heidmar team to manage the long range 2 (LR2) vessels in its Sigma Pool, the Suezmax vessels in the Bluefin Pool and the very large crude carriers (VLCCs) in the Seawolf Pool. The vessels within these pools will remain within their existing structures but are expected to benefit from access to Signal’s capabilities.

According to the Signal Group, its Artificial-Intelligence-backed solution to pool management has consistently delivered ‘superior’ earnings to its pool members since its launch in 2018.

“We are excited to join forces with Heidmar and look forward to bringing a stronger and better service to the market through this collaboration…We are confident that the combination of the Signal team and our technology will continue delivering a strong performance for all our pool partners,” Ioannis Martinos, the CEO at Signal Group, commented.

“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,” George Economou, a shareholder of Heidmar, said.

Founded in 1984, Heidmar has a fleet of about 50 vessels, including VLCC, Suezmax, Aframax/LR2 and Panamax tankers entered into its pools by 20 separate companies.