What is the philosophy behind Teekay and Maersk Tankers creating Swift Tankers?
‘The oil companies have grown in size and their transportation requirements have become more complex and reliable. Charterers need flexible service providers to cater not only for their system movements but also to support their increased trading requirements. By offering a larger and more flexible number of vessels, with relevant positions on ‘Charterers dates’, Swift Tankers ambition is to provide exactly this'.

Why Swift Tankers?
‘It has been important to the partners to establish an organisation with its own profile that has the ability to function in its own right, but able to derive benefits from the competence and values of both Teekay Shipping and Maersk Tankers. When branding this pool we wanted it to actively signal some of the key characteristics of the Intermediate market. Swift... fast and agile, and also a species of bird which fly fast over water and rarely rest; we think that this is fairly synonymous with the small tanker world and the vessels. The logo depicts two swifts flying in the sky over the ocean, with the blue colours referring to both nice summer days and winter ice blue!'

What is the formal structure of Swift Tankers?
‘Swift Tankers is a pool managed by a pool management company that undertakes all daily commercial and operational tasks, from fixing the vessels, to voyage execution, post-fixture and demurrage and claims procedures. The management company is 50/50 owned by Teekay Shipping and Maersk Tankers, has its own Board and Management’.

How will Swift Tankers add value to its customers?
‘Swift Tankers, by nature of its large fleet of modern, solely double-hulled IMO II and entirely Ice class 1A vessels, can offer a high degree of flexibility in global trades – not only matching preferred dates and positions for spot business but also tailor-made volume contracts served by a homogenous fleet’.

How will Swift Tankers deploy the fleet?
‘Swift Tankers has the ambition to become a global player in this growing market. There is plenty of ‘undiscovered land...or sea’ where trading and supply increasingly require quality tonnage’.

How will the Swift Tankers fleet develop in the coming years?
‘On launching of Swift Tankers in January 2007 the combined fleet number some 20 vessels of which 2-3 vessels are fixed out on time charter. By 2009 the fleet will be close to double that size’.

How does the Swift Tankers organisation look?
‘Swift Tankers is headquartered in Maersk Tankers offices in Copenhagen and will be staffed by employees seconded from the small tanker teams of Teekay Shipping and Maersk Tankers. At the same time, Stavanger will have a fully integrated Swift Tankers representation working out of the Teekay offices’.
Please click here for details of the team.

What will be the competence of the two offices in Copenhagen and Stavanger?
‘Copenhagen is the main commercial and operational site for Swift Tankers activities including pool management. From here the deployment of tonnage will be coordinated. The Stavanger office will focus on our business with Navion and Statoil – giving the full benefit of the now larger fleet whilst maintaining the local service and attention’.

How will Swift Tankers manage existing contract- and TC obligations entered into by Teekay and Maersk Tankers individually?
‘All existing contracts or time charters will be consolidated in Swift Tankers and managed by Swift Tankers. To the extent contracts require to be modified – for example entering more named vessels as possible performing ships etc., Swift Tankers will have a dialogue with the relevant customers’.

What happens between early December and until Swift Tankers becomes effective in January?
‘Your current business with Teekay Shipping or Maersk Tankers will be conducted ‘as usual’ with no changes. At the same time the team at Swift Tankers is preparing for the pool to become effective in January where the vessels will gradually become pool vessels and Swift Tankers will assume commercial and operational control’.

When will www.swifttankers.com be fully operational and which features will be available?
‘You are presently logged on to a preliminary site introducing Swift Tankers. When the pool is effective in January 2007 the web site will equally ‘go live’ with numerous added features and all relevant vessel information including positions, questionnaires and recap details. In addition, the site will allow you to make preliminary draft and intake calculations, find distances, use the currency converter or search for specific vessel details a.o.’

Why work with Swift Tankers?
‘We can’t wait to work with you! Having said that, we find that the combination of both vessels and people already established in the market place – but now as one organisation - will provide for customers, brokers, agents and other stakeholders an easy reference when considering transportation in the small- and intermediate size. We look forward to getting started, and to delivering a high quality service to all our customers. From a personal point of view – we look forward to having some fun in the process too!'

Is there a future for the pool within the new EU competition regulatory environment?
‘We are in active and open dialogue with the EU Commission on pools and we welcome that we will get clear guidelines from the Commission's antitrust regulators prior to their enforcement of the competition rules to the tramp market. Needless to say, we are committed to be in full compliance. We believe that the pool system has a future, as it adds real value to our customers'.