Two additional vessels joined the Baumarine pool
The good vessels MV S’hail al Rayan and MV S’hail al Dukhan of S’hail Shipping recently joined the Baumarine pool. S’Hail Shipping and Maritime Services has since its establishment in December 2016 shown solid growth, and through investments become Qatar’s largest dry bulk shipping company. As members of Baumarine they are in the global market and build up knowledge on the complex and dynamic drybulk industry which they can capitalize on for the future.
Mr. Mohamed Khalifa Al-Sada, Chairman and Managing Director of S’hail Shipping and Mr. Rajiv Pal, CEO believes being part of the Pool has been mutually beneficial for both S’hail and Klaveness. Khalifa Al-Sada says, “we would like to explore the possibility for further expansion in our scheme of cooperation”.
Head of Pool Management at Klaveness, Hans Næss Olstad explains, “With this fourth and fifth vessels in the Baumarine Pool, S’hail has become a successful example of cooperation and optimization of resources to streamline their spot trade without having the positional and counterpart risk. They benefit from the Klaveness deal flow and our chartering offices in Oslo, Singapore and Dubai. They also get access to our network of first-class charterers, our market research and digital tools. Shipowners such as S’hail Shipping can through Klaveness convert from floating to fixed rate at mutually agreed levels and can thus utilise the market volatility to their benefit. There is no doubt that knowledge sharing is one of the greatest benefits we can provide our pool customers”.
Michael Jørgensen, VP and Global Head of Panamax Dry Bulk in Klaveness Asia adds, “We are happy to have these additions from S’hail and their Qatar Team. In Klaveness we focus on developing long-term relationships with S’hail and other major shipowners adding value through sharing knowledge, market information and best industry practice on asset management.
The MV S’hail al Rayan and MV S’hail al Dukhan joined Baumarine in June.