In the dynamic and ever-cyclical world of dry bulk shipping, the strategic value of a shipping pool remains as relevant as ever. As we approach the end of another year of close collaboration with our members, our recent visit to the headquarters of S’hail Shipping and Maritime Services in Doha, Qatar, paid tribute to this fact.

Our conversations were deeply rooted in strategy and future-ready practices, in particular around green initiatives, and underlined a shared commitment to collaboration and innovation in a changing industry.

Performance

Spot to fixed rate conversion at FFA peaks

For Calendar Year 2023 to date, we’ve delivered a total upside of +$975,130 for S’hail fleet of four vessels.

Quarterly redistributions

In the first half of 2023, the four pool vessels achieved an aggregate increase of +31.9 VEP (Vessel Earning Points), translating to +7.98% per vessel. This improvement stems from good maintenance and operational efficiency, demonstrating our ability to convert effective vessel management into tangible financial benefits. These redistributions enhance the fixed rate agreements, offering a distinct advantage over traditional period/spot contracts where performance benefits typically accrue to charterers.

Carl-Martin Graf, Head of Baumarine, reflects: “We are dedicated to optimizing S’hail’s asset performance, aiming to maximize their earnings, resolve operational challenges, and bolster the collective strength of our pool members.”

S’hail Shipping’s growth and vision

Rajiv Pal, CEO of S’hail Shipping, comments: “We extend our gratitude to the Klaveness teams for their consistent support. Since our inception in December 2016 and our first Panamax acquisition with Baumarine, we’ve grown to become Qatar’s largest dry bulk owner.”

S’hail also touched upon the strategic expansion through their subsidiary, Global Trading and Shipping (GTS), aimed at aligning with Qatar’s National Vision 2030 to diversify its economy beyond oil and gas sectors, with Pal adding: “We are keen on deepening our collaboration with the Klaveness Market Manager digital platform to further enhance GTS’s decision-making capabilities.”

Looking to 2024 and beyond

As we look towards 2024, our focus intensifies on sharing knowledge and fostering insights, particularly around research, decarbonization, sales and purchase (S&P), and general fleet insights. Ignacio Pizarro, Global Head of Partner Relations of Baumarine emphasizes this future-oriented approach: “Our goal is to empower each member not just within the pool but as an independent entity to grow into more successful shipping businesses. Together, our collaborative spirit is not just about growth — it’s about setting new benchmarks in what it means to be a successful shipping company in today’s world.”

Stronger Together!