- S’hail Shipping’s vessels MV S’hail al Rayan and MV S’hail al Dukhan were inducted into the Baumarine pool.
- Baumarine has a solid global market and builds up knowledge on the complex and dynamic dry bulk industry along with future trends.
- They have access to first-class charterers who specialize in market research, and digital tools.
- Shipowners through Klaveness can convert from floating to fixed-rate at mutually agreed levels and can thus utilize the market volatility to their benefit.
The vessels MV S’hail al Rayan and MV S’hail al Dukhan of S’hail Shipping recently joined the Baumarine pool, says a press release published in the Klaveness website.
Largest dry bulk company
S’Hail Shipping and Maritime Services have 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 dry bulk 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”.
Additional vessels a strategic advantage
Head of Pool Management at Klaveness, Hans Næss Olstad explains, “With this fourth and fifth vessel 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.”
He further added, “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 utilize 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”.
Focus on long-term relationships
Michael Jørgensen, VP and Global Head of Panamax Dry Bulk in Klaveness Asia added, “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.”
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Source: TorvaldKlaveness
