Ultramax vessels. Thoresen said members of the new pool will benefit from consolidated commercial management that will market each vessel as part of a unified, single cohesive fleet in niche trades. Members’ assets will also have access to COA (contract of affreightment), short period, and hedging services.
The new pool service will be led by director of Thoresen Shipping Commercial Team Mr.Henrik Jeremiassen and the Thoresen Shipping Commercial management team led by Mike Anderson. “Supramax/Ultramax dry bulk shipping desperately needs the consolidation currently present in the Cape sector and container shipping.
In considering the demand side of dry bulk, the majority of seaborne cargo is currently controlled by a relatively small number of industrial majors,whereas the supply side of Supramax/Ultramax is highly fragmented with intense competition among owners for freigfreight,” said Mike Anderson, Commercial Director, Thoresen Shipping. Mr. Anderson noted that many owners carry the disadvantage of having relatively inexperienced commercial management determining freight charges and thereby perpetuating an unhealthy owners’ environment.
“Industry consolidation and professional pooling among owners is going to be a critical component in restoring a sustainable model with a more stable pricing environment moving forward, benefitting freight and vessel alike,” added Mr. Anderson. New pool members are expected to benefit from Thoresen Shipping’s experience in building a strategic presence in higher yielding routes, with a focus on premium service and niche cargos targeting a diverse set of clients including a growing group of industrial majors.
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