ShippingWatch

Nova Tankers: The customers know our positions

It is quite normal for ship owners with large fleets not to reveal their positions, says Nova Tankers CEO, Morten Pilnov.

The instantaneous and significant rise of the tanker rates of the VLCC fleet is making several analysts wonder why pacesetting shipping companies are keeping their ship positions “secret” out of competitive considerations in order to maximize their benefit from the favorable terms, terms that are unlikely to last for long.

But there is nothing unusual about that, says Morten Pilnov, head of the newly established pool Nova Tankers, which - led by Maersk Tankers – will be operating the world’s largest VLCC fleet when all ships become active in the pool throughout 2012.

“It is quite normal for owners of large fleets not to share their positions. We are in constant contact with the market. This enables us to make sure that our customers know about the ship positions relevant for their business. Furthermore, our positions are changing all the time according to changes in, for instance, current loading- and unloading ports,” Morten Pilnov, Nova Tankers, tells ShippingWatch.

Short term increase in rates

Analysts generally agree that the increase in rates will be brief, and will probably fall back to a low level since there have been no fundamental changes to the market, especially in relation to the overcapacity of ships.

The spot market for supertankers has seen a significant boom these past weeks. This is good news, especially for Nova Tankers which, as opposed to the other big VLCC pool, Tankers International, is focusing on the spot market.   

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Latest news

See all jobs