Phoenix Tankers was incorporated in Singapore on 25th October 2006 as a private limited company. The main activity of our company was to undertake the spot-chartering of crude oil tankers previously undertaken by our parent.Our company took delivery of the first VLCC, the M.T. Phoenix Vanguard (301,666 DWT) in October 2007. In 2008, our company time-chartered in 2 Aframax vessels to supplement our spot-chartering business.During the same year, our company also undertook commercial management of one VLCC and two Aframax vessels on behalf of our parent company Mitsui O.S.K. Lines, Ltd. On 1st. April 2008, our company was granted the Approved International Shipping Enterprise (MSI-AIS) award by the Maritime and Port Authority of Singapore.Our company continued to expand and in 2009, acquired two newly built vessels, a VLCC and an Aframax vessel to boost our operations. During the same year, our company also time-chartered in one more Aframax vessel to add to our spot-chartering business. In March 2009, our company also opened a London branch office in order to tap into the spot-chartering business west of Suez.During 2011, two more newly built Aframax vessels were delivered to our company. The commercial management of our parent company's vessels also increased greatly during 2011 when a total of eleven VLCCs and four Aframax vessels were placed by our parent company for commercial management by our company. There was another milestone achieved in 2011 when in August our company finalized the purchase of the LPG Tanker business from our parent company, Mitsui O.S.K. Lines, Ltd.Our LPG tankers are placed in the LPG Global Transport pool, which our company has a 50% stake. Our company are also the appointed pool managers.? Our staff strength also increased and we now employ a total of 23 staff (as at December 2011). In order to accommodate the increase in staff numbers due our rapid business expansion, we moved to new and larger office premises in November 2011.Phoenix Tankers set up VLCC Pool with MOL and Maersk Tankers. The VLCC Pool company, Nova Tankers A/S commenced operations on 6th. February 2012 with offices in Singapore, Copenhagen and New York.
Sector: Oil & Energy