In a related transaction, senior members of Heidmar's management will purchase a 2% equity stake in the company, and Morgan Stanley will retain 49% ownership of the company.
Subject to the receipt of necessary regulatory approvals, both purchase transactions are expected to close within thirty days.
SPII affiliated with the Cardiff Group, which has extensive interests in the dry and wet freight shipping industry. Ten of Cardiff's vessels currently participate in two of the Heidmar shipping pools.
Heidmar has offices in the US, UK and Singapore, and operates a fleet of more than 90 tankers.
Heidmar is the general agent and commercial manager of five pools:
Star Tankers (panamax/LR1 tankers between 55,000 and 75,000 DWT)
Sigma Tankers (aframax/LR2 tankers between 90,000 and 120,000 DWT)
Dorado Tankers Pool (mid-range product tankers between 37,000 and 55,000 DWT)
Marida Tankers (short-range product tankers between 10,000 and 18,000 DWT)
Blue Fin Tankers (suezmax tankers between 140,000 and 180,000 DWT)