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Signal Maritime launches MR Pool

This article examines recent progress and initiatives by the shipping industry to meet new IMO targets and provides Signal Ocean Platform data on emissions developments and trends.

Press releases
April 2, 2024

Commercial ship manager Signal Maritime is expanding its services and launching a new pool for MR product tankers. The move follows the success of its Aframax pool, which has been running since 2018 and consistently delivering above market returns to its members.

The new MR pool will benefit from Signal Maritime’s experience of managing clean tankers as well as utilising its cutting edge technology platform Signal Ocean.

Signal Maritime CEO Panos Dimitracopoulos said:

“The clean tanker market has always been a highly competitive environment with the presence of many experienced owners and pools. We believe that our new MR pool is good for a market that may see more players combining efforts to achieve benefits of scale, optimise their commercial management and address the demanding environmental requirements ahead.

The Signal team has a unique set of capabilities, driven by diversified backgrounds, with a strong track record in the Aframax and MR universe. This makes us very confident about the success of this new initiative.”

The new endeavor will replicate Signal’s success in the Aframax market by bringing together shipping best practices with internet-age advanced analytics and management methods.

The Signal Maritime MR Pool will deliver owners increased flexibility, best-in-class performance and simplicity while protecting the fairness of earnings distribution.

Building a critical mass of vessels whilst staying focused on outperforming the market and maintaining the highest level of quality service for pool partners are Signal Maritime’s main goals for the next two years.

Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
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Increased Use of Renewable Energy:

Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.

Collaboration and Industry Partnerships:

Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.

To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.

Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.

Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.

Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert

Increased Use of Renewable Energy:

Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.

Collaboration and Industry Partnerships:

Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.

To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.

Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.

Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.

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Signal Maritime launches MR Pool

Posted by
The Signal Group
|
May 26, 2021

Commercial ship manager Signal Maritime is expanding its services and launching a new pool for MR product tankers. The move follows the success of its Aframax pool, which has been running since 2018 and consistently delivering above market returns to its members.

The new MR pool will benefit from Signal Maritime’s experience of managing clean tankers as well as utilising its cutting edge technology platform Signal Ocean.

Signal Maritime CEO Panos Dimitracopoulos said:

“The clean tanker market has always been a highly competitive environment with the presence of many experienced owners and pools. We believe that our new MR pool is good for a market that may see more players combining efforts to achieve benefits of scale, optimise their commercial management and address the demanding environmental requirements ahead.

The Signal team has a unique set of capabilities, driven by diversified backgrounds, with a strong track record in the Aframax and MR universe. This makes us very confident about the success of this new initiative.”

The new endeavor will replicate Signal’s success in the Aframax market by bringing together shipping best practices with internet-age advanced analytics and management methods.

The Signal Maritime MR Pool will deliver owners increased flexibility, best-in-class performance and simplicity while protecting the fairness of earnings distribution.

Building a critical mass of vessels whilst staying focused on outperforming the market and maintaining the highest level of quality service for pool partners are Signal Maritime’s main goals for the next two years.

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