The UK’s Stolt-Nielsen’s subsidiary Stolt Tankers and Germany’s Essberger Tankers have created a parcel tanker joint venture. The new venture will see both companies operate their combined parcel tanker fleets trading within European continent.
The joint venture will be known as E&S Tankers, which is expected to be operational from January, 2021. It will offer a combined fleet of 48 parcel tankers to customers. The size of the parcel will range between 2,800 to 11,300 deadweight tonnes. The tankers will operate in the Baltic, Mediterranean and Northwest Europe.
The new development highlights Stolt Tankers’ proven ability to develop opportunities and generate value in a changing market. In addition, the new joint venture will provide logistical flexibility, boost reliability and reduce network inefficiencies to Stolt Tanker’s fleets
Furthermore, the joint venture is expected to assist delivery for Stolt Tankers’ commitment to reducing carbon emissions, while delivering a best-in-class environmental and safety standards, according to customers’ expectations.
Jan Eghoj, Managing Director, Essberger, “Essberger and Stolt Tankers are strong heritage businesses with a very good match in their values and business approach. With this joint venture we have combined our vast experience in the parcel tanker market for the benefit of our customers. Improved fleet efficiencies will enable us to invest in the future, to remain the preferred long-term partner for our highly valued customers. We are not only pleased that our fleet of 34 tankers will be fully integrated into the joint venture.”