Harry Rutten, owner of Belgian product tanker operator Transpetrol, is buying out Transpetrol ITM.
The joint venture with Norway’s Wilh Wilhelmsen was set up only two years ago.
Both sides insist the move, with effect from next month, will not affect their relationship and Transpetrol will continue to buy crewing and safety management services from Barber, Wilhelmsen’s shipmanagement division.
The joint venture between Transpetrol and Barber affiliate International Tanker Management was set up in April 2002 and saw 20 product tankers being transferred from third-party managers to the new Sandefjord-based company.
