A.P. Møller, Primorsk Shipping Company, Reederei “Nord” Klaus E. Oldendorff and A/S Dampskibsselskabet Torm have agreed to establish a new product tanker pool to commercially manage their fleets of 100,000 dwt product tankers (LR2 vessels).


The new pool, which will trade as “The LR2 Pool” will commence operations on 23 April 2001.


A Commercial Management Company owned jointly by A/S Dampskibsselskabet Torm and A.P. Møller with offices in Copenhagen and Tokyo as well as representation in Seoul and Singapore will be established to handle chartering and post-fixture operations for The LR2 Pool.


The LR2 Pool will manage a fleet of exclusively modern LR2 vessels numbering initially 14 vessels. As participants take delivery of newbuildings, the fleet will grow to more than 20 vessels by 2003.


The LR2 Pool is being established to provide customers with an improved service. By virtue of its large homogeneous fleet, The LR2 Pool will offer increased flexibility and the ability to conclude volume contracts.


The Commercial Management Company will be based at A/S Dampskibsselskabet Torm’s office in Copenhagen, and A.P. Møller’s office in Tokyo, respectively.


For further information, please contact:


Klaus Kjærulff, Managing Director, A/S Dampskibsselskabet Torm
Telephone number: +45 3917 9200


Søren Skou, Vice President, A. P. Møller
Telephone number: +45 3363 4802