On 22 July, the Trafigura Group has successfully acquired Gearbulk Holding AG’s 50 percent share in the joint venture company High Heat Tankers Pte Ltd (HHT) for an undisclosed amount. Additionally, the Group has committed to commissioning a new 17,500 dwt IMO II specialized high heat tanker, slated for delivery in the third quarter of 2026 from Chengxi Shipyard, China. This strategic acquisition and expansion are poised to significantly enhance HHT’s service capabilities.

The forthcoming vessel will be equipped with a high-efficiency heating system, specifically designed to transport products in liquid form at elevated temperatures. The design incorporates strongly insulated and fully segregated ‘floating’ cargo tanks, allowing for thermal expansion without contact with the hull’s inner side. This innovative design, combined with thick insulation of the cargo tanks, will considerably reduce the energy required for heating.High Heat Tankers Pte Ltd was established in 2018 as a joint venture between Gearbulk and Trafigura Group’s Puma Energy Supply and Trading Pte. Ltd.

The venture provides access to the world’s largest fleet of modern IMO II high heat tankers. Presently, the HHT pool consists of 14 high-quality tankers, ranging from 15,000 to 37,000 dwt, capable of transporting liquid pitch and other high-temperature products such as bitumen. This strategic acquisition and fleet expansion underscore Trafigura Group’s commitment to enhancing its capabilities in the specialized transport of high-heat products, further solidifying its position in the global maritime industry.