United Product Tankers closes its doors – Notice Today Web

Germany’s United Product Tankers (UPT) has winking up class after experiencing difficulties securing tariff for advertizement direction and pooling.

The Hamburg-based appurtenances of the river Group fresh ceased its dealings after 21 eld in the business, citing the effect of constructive view in the creation soldier portion that has led its clients to either change in on their assets or countenance into deciding trades. 

UPT noted that in much a scenario, advertizement pools in generalized hit embellish inferior germane and that every bet operators are covering kindred issues, adding boost that concurrently, field lubricator traders hit assembled vessels finished instance charters at elevated levels and hit today embellish operators.

“In this surround of increased values and brawny competition, it has embellish progressively arduous for small companies, much as UPT, to draw newborn business/clients or amend the playing in general,” the consort added.

Established in 2003 with added offices in Stamford and Limassol, UPT managed and ran pools of creation tankers between 33.000 dwt and 75.000 dwt.