Shell Tankers (Singapore) Private Limited will contribute 10 medium-range product tankers (MRs) to the Signal Maritime MR pool in a partnership that reflects the increasing role that digital technology is playing in global shipping.
In line with the shipping industry’s decarbonisation efforts, Shell and Signal have also agreed to collaborate on carbon emissions reduction initiatives. Shell’s partnership in the MR pool comes after Shell became an early adopter of the Signal Ocean platform in product tankers.
The two partners expect digital technology to help improve commercial results through the MR pool structure and other potential synergies.
Plans for further expansion of the pool with select partners are in progress, following the initial launch of the pool with vessels from Astra Shipmanagement and Signal.
The pool aims to increase its fleet while sustaining high performance and quality of service with global presence. The MR pool has been a natural expansion step for Signal Maritime, following the successful establishment of the company’s Aframax Pool as a top-performing operator.
The commercial team leverages its analytical capabilities and expertise along with the powerful Signal Ocean platform to run its tanker pools more efficiently and profitably, while ensuring transparency and flexibility to the pool partners. The two partners have also agreed to investigate further synergies and pooling opportunities in other tanker segments.
Established in 2014 The Signal Group is a diversified shipping services group with offices in London and Athens. The Signal Group offers commercial ship management services to a pool of Aframax and MR class tankers. In addition, The Signal Group develops and invests in next generation shipping related software technologies. It is led by an executive team who has more than 65 years of collective experience in ship management at the highest level. The leadership team is supported by a world-class mix of commercial shipping professionals, finance professionals, strategists, energy market analysts, data scientists and developers.