A new exciting venture combining a dry bulk operator and a pool has launched in Athens, backed by a range of blue-chip market participants. It will be the first dry bulk platform of its kind in Greece, the world’s leading dry shipowning centre.
Bluepool Trading will deploy its funds by chartering-in panamax vessels on period terms whilst systematically monitoring and hedging cashflow and market risks with freight derivatives. The company aims to quickly become a preferred partner of leading shipowning companies by applying its disciplined commercial strategy.
In parallel, Bluepool will operate a panamax pool. It will be a spot-only vehicle designed to outperform the index on behalf of its clients. It will do so by taking advantage of its size and by using advanced index-hedging techniques. The pool will commercially manage Bluepool’s chartered-in fleet alongside third-party owned vessels.
Bluepool is led by an experienced team whose expertise lies in dry bulk chartering, derivatives trading and shipbroking. It includes ex-Noble Head of Panamax Aris Bachos, ex-GMI/M2M freight derivatives trader Nikolas Gavriilidis and ex-IFCHOR partner Kimon Angelopoulos.
Bluepool Head of Business Development Kimon Angelopoulos said:
“We have created a modern, well capitalized trading business which provides its investors with an opportunity to benefit from our trading experience in the dry bulk market. With regards to our pool, we observed the many challenges faced by other panamax pools in the past and strived to overcome them. We therefore designed innovative terms to provide shipowners the highest fairness, transparency and flexibility. We also look forward to developing the business in Athens in proximity to our counterparties of the Greek shipping community.”