Singapore-based tanker shipowner Xihe Group of Companies (Xihe) has appointed V.Group, a leading global provider of ship management and marine services as the technical manager for 16 of its modern tankers.
Mr. Kenny Lim, Interim CEO of Xihe said: “This strategic partnership kickstarts Xihe’s engagement of independent, world-class professional companies to provide technical and commercial management for our vessels. Having witnessed the professionalism of the V.Group team in taking over ‘Ocean Queen’ under their technical management, Xihe is confident that our crew and assets are in capable hands.”
“With this appointment, Xihe will also leverage on V.Group’s global network of industry-leading experience, local knowledge and invaluable crewing and technical expertise, to operate our ships at the highest standard of safety, quality and efficiency. We are confident that our clients and stakeholders will benefit from the improved economies of scale and purchasing power through this partnership.”
The vessels are currently anchored off Singapore waters. ‘Ocean Queen’ (IMO 9368223), a 108,953 DWT oil tanker was the first vessel transferred over to V.Group’s technical management team and the remaining vessels will follow suit in the coming weeks.
With the addition of these vessels under its management, V.Group has further strengthened its market position in Singapore.
Under this partnership, Xihe will also benefit from V.Group’s innovative IT system, ShipSure, which promotes efficient operations based on best industry practices. The system also provides access to more than 15 years’ worth of data insights to facilitate industry benchmarking and vessel optimisation.
Commenting on the announcement, Graham Westgarth, Chief Executive Officer of V.Group, said: “We are proud to support Xihe Group of Companies, and are looking forward to harnessing our scale and expertise to provide a ship management offering which is second to none. By leveraging our operating model, we are confident we can offer the depth and scale to manage Xihe’s fleet safely and efficiently, thus maximising the value of their assets.”