Capital Ship Management and Heidmar Inc announced the formation of a joint venture (JV) combining the long standing commercial strength of the two organizations in the tanker industry. All 32 tankers managed by Capital will be joining pools operated by Heidmar.

Following the formation of the JV, Heidmar will operate approximately 60 crude, product and chemical tankers ranging from 10,000 dwt to VLCCs operated by 35 talented people from Athens, London and Singapore.

Pankaj Khanna, CEO of Heidmar Inc commented "I am extremely pleased to announce today the joint venture with Capital and the relaunching of the Heidmar brand. The unique and transparent trading platform of Heidmar that has enjoyed an excellent reputation in the market for decades and the exceptional performance of our pools have been key drivers in attracting quality tanker owners like Capital.

Overall, we have worked hard since November 2020 to rejuvenate the Heidmar fleet from 7 to almost 60 tankers today. I am humbled by the trust placed by Capital in the Heidmar ethos of trust and long standing relationships. The addition of the talented Capital commercial team to the Heidmar team will create a strong engine to extract the best performance from the assets under management in a challenging and dynamic tanker market.

This JV is a step in the right direction for Heidmar and we hope will be followed by others, who also see the same virtues. We continue to focus our efforts on executing the vision of a services platform that will offer financial and strategic owners of tankers or bulkers options to leverage their assets for the best returns."