A new joint venture by Owners to meet industry challengers

Reederei NORD B.V. of the Netherlands, Singapore-based Synergy Group, wanted to launch a joint venture, creating a new pool of tankers. The new pool, N2Tankers, would be managed jointly out of Amsterdam and Singapore.

The Reederei NORD tankers are Oldendorff-owned ships, for which the Dutch company provides technical management. The Synergy ships are owned by Japanese tonnage provider and long-term partner Nissen Kaiun Co.

The formation of N2Tankers marks the latest stage of Reederei NORD’s drive towards consolidation in the commercial sector, following formation of its Container Feeder 1700 TEU Pool (ACP) and Handysize Bulker Pool (HUHP) via its platform Hanseatic Unity Chartering (HUC) with around 250 dry ships under commercial management.

Synergy has a proven track record in offering world class commercial and technical management. It offers a comprehensive service to its clients, while taking critical steps to deliver its vision of providing Synergy quality service right up the shipping value chain.

Choosing the right solution for streamlining and optimization

Overcapacity is widely believed to be creating drag on performance across the shipping industry, but there are no overnight fixes. It’s a structural problem that is going to take time to unwind.

While the problem of overcapacity fixes itself over the mid-term, bringing together resources to consolidate offers both owners and operators the opportunity to streamline fleet operations and find greater efficiency. But what is the best way of managing the operations of each vessel in the fleet?

The formation of N2Tankers offered the chance for a re-think about how to do things. Both Reederei NORD and Synergy Group, already used Q88VMS. And both have earned great reputations for efficiency and high reliability. They share the belief that focusing on their customers’ requirements helps them to satisfy the needs of cargo and tonnage owners alike. So, when it came to choosing the right VMS, there was no need to fall too far from the tree.

The right technology for efficient operations

N2Tankers chose Q88VMS to bring the same level of efficiency to its operations as its parent companies. Q88VMS, is the flagship product in the Q88 LLC portfolio of cloud information solutions for the shipping industry.

Q88VMS is a web-based platform for managing all voyage related information. The system supports chartering, fixture creation and voyage operations including a unique email module through which all voyage communications and data can be managed in a single workspace. Built by people with chartering and operations experience, Q88VMS is designed to empower its users, catering to real-world industry dynamics.

Increasing the potential for maximizing profits

Capt. Madhu Vadakkepat of N2Tankers said, “The formation of the pool is essentially joining hands of like-minded owners with an initiative to improve financial performance. By choosing Q88VMS, we have picked technology that is proven to help us optimise operations and maximize our profitability.”

Fritz Heidnereich, Former President of Q88 LLC said, “The thoughts of many owners and operators are on finding opportunities and maximizing efficiency. Consolidation by way of formation of a new pool is a good way of bringing resources together. Q88VMS is a market leader and we invite and welcome other like-minded owners with quality tonnage and operations to join us.”