Stolt Tankers and Tufton enter into a pooling agreement
Stolt Tankers and Tufton Investment Limited have entered into a pooling agreement for seven of Tufton’s chemical tankers to join the Stolt Tankers joint service deep-sea fleet.
Together, the two organisations will pursue vessel efficiency and propulsion research, environmental projects, and a biofuel testing programme. Their goal is to drive significant carbon emission reductions across their combined fleets.
Paulo Almeida, Tufton’s chief investment officer, said: “Tufton funds own twelve chemical tankers, a market segment with a very attractive risk-return profile, especially if operated in a well-aligned partnership like the one we have with Stolt Tankers.
“We are very pleased to have grown our relationship with Stolt Tankers over the past few years, and to work with Stolt Tankers towards aligning the shipping industry with the Paris Agreement.”
President of Stolt Tankers, Lucas Vos, said: “The addition of Tufton’s ships to the STJS fleet demonstrates Stolt Tankers’ ability to generate customer value in a challenging market by adding tonnage from a top-tier platform to our trading network.
“We expect the added ships to improve our overall service offering by enhancing logistical flexibility and synergies while continuing to provide best-in-class environmental and safety standards. I am pleased that Stolt Tankers and Tufton have also formalised their mutual commitment to protecting the environment with the carbon reduction and sustainability information sharing agreement.”
Furthermore, Stolt Tankers and Tufton agreed to enter into a carbon reduction and sustainability information sharing agreement. The agreement will be effective immediately, and Tufton will be contributing the vessels during the second and third quarters of 2021.
For more information visit www.stolt-nielsen.com
14th June 2021
