German Shipowners Kick Start Supramax Pool

Hamburg-based shipping companies H. Vogemann and Ahrenkiel Steamship have started a pool for bulk carriers in the Supramax segment.

Under the deal, H. Vogemann Group will be responsible for pool management and chartering. The Supramax pool will also be available to outside partners.

“Through this alliance, the pool partners are aiming to create a significantly more efficient cost structure: On the basis of synergy benefits and many years of experience in chartering and ship management business, the two companies anticipate charter income substantially above the figures quoted for the relevant routes in the Baltic Supramax Index (BSI),” a joint statement reads.

Alongside six ships pooled by Vogemann since March 2015, six Supramax bulk carriers provided by Ahrenkiel Steamship, the pool has also added two vessels of a Greek owner and the partners anticipate further additions over the coming weeks. At present the pool comprises 14 ships ranging in size from 51,000 dwt to 58,000 dwt.

As informed, the pool does not focus solely on the spot market, it also seeks to secure medium-term time charters, in which the solvency of the charterers is specially assessed.

“This flexibility makes the pool also an interesting prospect for entities under restructuring. All ships will be evaluated according to a comprehensive and transparent evaluation tool which will be adjusted according to the actual performance at least once per quarter. New pool members will not be expected to contribute working capital,” the statement adds.

Jens Arndt, Managing Director of the H. Vogemann Group, said: “The pool enables us to share our long-established expertise in chartering at costs that reflect present-day market conditions and are therefore well below the costs of other Pools.”

 

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