- Business Principles
Ultratank manages the Groups Chilean and international tanker activities (clean, dirty and chemicals) and has been able to maintain a constant growth over the past two decades. But its origin date back to the 1995 when what was then called Ultragas entered into the crude and dirty petroleum products (DPP) segment via the acquisition of the Chilean Shipowner and Operator SONAP (Sociedad Navegación Petrolera) which was based in Valparaiso, Chile. In the same year the Group founded Cape Tankers Inc, an affiliated company of Ultratank, specialized in the commercial operation and management of international DPP and Crude Oil carriers.
In 2005 Cape Tankers was appointed to manage all commercial and operational activities for Panamax International (PI), a tanker pool which today consists of a joint venture of Overseas Shipholding Group (OSG), Empresa Pública Flota Petrolera Ecuatoriana (EP Flopec) and Ultratank. Initial activities consisted of a fleet of 15 Panamax tankers, but which has evolved to an operation of around 40 vessels, which provide flexible and reliable transportation services to the oil industry. The pool’s trading patterns are focused on the Americas and serviced via the utilizing of a modern fleet of double hull vessels.
A year later in 2006 another milestone was reached by the forming of Clean Products International (CPI) pool, effectively another joint venture between OSG and Ultratank, this with the specific pursue of operating a fleet of medium range tankers used for the transportation of “clean” petroleum products such as gasoline and diesel oil, mainly within the Americas.
In 2013 Cape Tankers was also appointed Commercial Coordinator and Co-Manager for Andes Tankers, a partnership between EP Flopec and Ultratank. The partnership trades a modern fleet of around 8 Aframax Tankers with a strong focus in the Americas.
The next year Clean Products Tankers Alliance (CPTA) was launched, a pool destined to operate a fleet of around 60 new medium range product tankers. Products Tankers Management Company (PTMC), an affiliated company of Ultratank founded also in 2014 was appointed to commercially manage and operate the IMO3 fleet of CPTA, trading with a strong regional focus on the Americas. The four partners consist of Mitsui OSK Lines (MOL), Asahi Tankers, OSG and Ultratank.