NEW YORK, Nov. 18, 2004 (PRIMEZONE) -- PDV Marina, S.A. (PDV Marina), the marine transportation subsidiary of Petroleos de Venezuela, S.A. (PDVSA) and Overseas Shipholding Group, Inc. (OSG), jointly announced today that Hansa Shipping GmbH & Co. KG (Hansa) has joined the Aframax International Pool (the Pool). Hansa has contributed one double-hulled Aframax newbuilding (HS Tosca) to the Pool and will contribute another Aframax newbuilding (HS Norma) with delivery about November 30, 2004. This will bring the number of Aframaxes in the Pool, including committed newbuildings, to 38.
PDV Marina and OSG said they were very pleased to welcome Hansa into the Pool, and noted that the addition of Hansa's two Aframax newbuildings will enable the Pool to offer additional capacity to its customers and to achieve further scheduling and operating efficiencies.
Founded in 1996 by PDV Marina and OSG, the Aframax International Pool is a leading operator of modern Aframax vessels trading primarily in the Atlantic Basin and the Mediterranean. The Pool has been able to supplement its base load cargoes with backhauls and complementary contracts of affreightment, enhancing vessel utilization and thereby generating higher revenues. Among its major customers are Citgo, Petro-Canada, BP, Nynas and ExxonMobil.
The Pool is managed by PDV Marina and OSG. The other members of the Pool include Seaarland Shipping Management GmbH, Koenig & Columbia Tanker Ltd., Phoenix Energy Navigation S.A. and Scorpio Ship Management S.A.M.