OLDENDORFF COOPERATES IN TANKER POOL

OLDENDORFF COOPERATES IN TANKER POOL    Reederei “Nord” Klaus E. Oldendorff Ltd. has joined the Aframax tanker pool of Overseas Shipholding Group, Inc. and PDV Marina, the marine transportation subsidiary of the Venezuelan oil group Petroleos de Venezuela, S.A.
   Oldendorff will contribute its four 1998 built, double hulled Aframax tankers to the “Aframax International Pool,” expanding the number of Aframaxes trading in the pool to 25.
      PDV Marina and OSG said that the addition of Oldendorff’s four Aframax tankers will enable the pool to offer additional capacity to its customers and to achieve further scheduling and operating efficiencies through the expansion of its fleet.
   Founded in 1996 by PDV Marina and OSG, the Aframax International Pool supplements its baseload Venezuelan cargoes with backhauls and contracts of affreightment, enhancing vessel utilization and thereby generating higher revenues.