Energifonden Maritime

Crude hopes

One Swedish owner is confident the tide is about to turn for the tanker sector

Sweden’s Energifonden Maritime has recently taken delivery of an LR2 aframax vessel. The vessel has been renamed Agneta Pallas. The takeover of the 2006-built ship, previously called Dubai Horizon, took place at a shipyard in Istanbul where the vessel underwent a special survey and a ballast water treatment system was installed. The vessel has now entered into a charter with Malaysia’s AET. No price for the ship has been revealed.

Spot on Energifonden Maritime

Subsidiary of Sweden’s Energifonden Sverige and keen investor in aframax and suezmax tankers.

“I am happy and grateful that Energifonden Maritime was able to carry out this deal and according to our analysis the market will recover strongly for this type of vessel due to a very low orderbook and scrapping of older tonnage and future tougher environmental and emissions regulations together with higher oil consumption like pre-Covid,” comments Fredrik Johansson, CEO and owner of parent Energifonden Sverige.

Earlier in the year the company sold a suezmax it owned 50:50 with Ridgebury Tankers.

Energifonden Maritime is based in Oslo and is the division within Energifonden Sverige that handles all investments in energy logistics at sea. investing in both new and established companies in the energy sector, everything from shipping operations to wind turbines and companies that research alternative fuels.

Energifonden Maritime is looking for more ships to buy especially aframaxes and suezmaxes.

“All signals are showing a very bullish crude market after summer and more people get vaccinated around the world,” says a bullish Johansson. ●