Monaco’s C Transport Maritime (CTM) is adding more bulkers to its supramax pool.
The John Michael Radziwill-led company said little-known Oslo owner Forra Ultramax AS has joined the supramax revenue sharing agreement (RSA) with one ship, and another vessel will potentially join later.
Forra Ultramax’s major shareholders include Uthalden AS and Marine Holding (35% each) and Oceana Navigation (15%). The company is not listed in shipping databases.
The bulkers were not named, but CTM said current pool members will also be contributing more vessels in the coming months.
Stone Shipping is adding two bulkers before June, while CTM client CBC will hand over its latest newbuilding next month.
CTM will be adding a newbuilding of its own in July.
Stone Shipping is a CTM-linked investment vehicle targeting supramax and ultramax bulk carriers.
It is a joint-venture fund between investors — including Radziwill — to invest in dry bulk shipping over the short term.
The RSA is the largest supramax pool in the world, with a fleet of between 50 and 60 vessels.
CTM says it offers flexibility, with owners needing to give only two weeks’ notice of entry and a maximum three-month exit window.
The commission charged is 1.25%.
“In the past five years, we have outperformed the market by 5%, and in 2022, our performance was +8% compared to the benchmark index,” CTM said.
In May 2022, the pool revealed strong results over the previous six months.
Returns from the RSA averaged 14% above the sector’s benchmark index.
