Tanker shipping company Team Tankers International Ltd. said it has formed a joint venture (JV) with ship management specialist V.Group, whereby Team will transfer its in-house managed fleet, consisting of ten MRs and two 25k coated vessels, to the JV, along with its on shore technical organization and seafaring expertise. Team already has 21 ships with V.Group for technical management.
Team will own 30% and V.Group 70% of the JV, Dania Ship Management AS Denmark, which will continue to be based in Copenhagen, although additional parties may join in the future.
The joint venture start-up date is April 1, 2020.