The management team of Halcyon Tankers is planning to double the size of the firm this year after buying the company from Hargreaves Logistics.

Former Hargreaves Logistics MD Andrew Spence-Wolrich has joined forces with Halcyon MD Ian Elliott and Nigel Barraclough, who was MD of Hargreaves Services between 2011 and 2015, to buy Halcyon Tankers this month.

The company specialises in transporting petroleum and bulk chemicals across the UK from its base in Port Clarence, Middlesbrough.

Asked what the management team plans for Halcyon Tankers over the next 12 months, Spence-Wolrich told MT: ”We want to double the size of the business, although at a sensible pace.

"Fortunately there is no pressure on us to hit unrealistic targets, because it is our own business -ultimately our aim is to grow a sustainable, safe, compliant, long term, quality business and those are our key pillars.”

Halcyon Tankers

Spence-Wolrich and Elliott played key roles in the launch of the Hargreaves subsidiary in July 2017.

Growth has been rapid under Elliott’s leadership with the firm building a fleet of 26 tankers and delivering £3m in turnover within the first six months.

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Since its acquisition last month the company has added another tanker to the fleet and currently employs 31 staff members, including 27 tanker drivers.

Spence-Wolrich said the firm, which specialises in the transportation of bulk chemicals and petroleum, planned to take on more drivers this year as the fleet expands.

He added: “The business has continued to grow well. I am not surprised at how much it has grown as we took it over in a good position – we are already exceeding our turnover forecast and we are confident we can continue to grow the business as we continue to take on new customers and contracts.”

He said the management team has a wealth of experience to bring to the business.

“Ian has a very good reputation in the sector from his time as MD of Imperial Tankers, which has stood the business in good stead both in terms of attracting new customers and drivers/

"I was at Hoyer (as general manager between 1996 and 2000) so we have good contacts within the industry and we have all worked together at Hargreaves so we know we work well together,” he said.