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Italian shipping company d’Amico Group is looking into establishment of a Panamax and a Kamsarmax bulker pool in Singapore in the second half of 2016, the company’s management told the Kaiji Press (KP) while in Tokyo on March 10.

The intention builds upon last year’s launching of the new Medi Supra Pool Management Limited, also headquartered in Singapore, comprising 25 Supramaxes with the aim of reaching 40 units.

The company’s CEO Cesare d’Amico revealed that the pool is “achieving results exceeding the index by 20%.”

Pooling resources seems to be an attractive option for bulker owners at the moment as overcapacity and low rates in the dry bulk shipping sector bring about charter cancellations. What is more, recovery of the market fundamentals in the dry bulk sector is not expected until 2017.

Therefore, the launching date of the pools might be an indication of the expected market recovery. However, further details on the new pools’ specifications have not been disclosed.

d’Amico Group has 53 MR-type/Handysize PCs and 43 bulkers in its fleet, with a newbuilding orderbook comprising of 18 PCs including those to be chartered and 26 bulkers.

World Maritime News Staff