C Transport Maritime (CTM) has expanded its supramax pool further through a deal with Japan's Fukunaga Kaiun.
The Japanese owner is joining its Supramax revenue sharing agreement (RSA) with its 59,000-dwt Furness Victoria (built 2012).
It is the second Japanese player to contribute tonnage to the operation.
"We are honoured that Fukunaga Kaiun has chosen to join our Supramax RSA and we look to further expand into and consolidate our presence in the Japanese market," CTM said.
"CTM has a long-standing tradition of cooperation with the Japanese market including with trading houses, yards and relationships with local owners."
Another current member will add two more ships in April, it said, meaning the Supramax RSA pool now has 21 members and a fleet of over 80 vessels under management.
The RSA reached 80 ships last month as the John Michael Radziwill-backed vehicle said MPF MI Holdco agreed to add its ships to the pool.
New owners added
This is a joint venture formed last year between US investment manager Mangrove Partners and Nordic Hamburg.
The first MPF MI Holdco vessel to join the pool will be the Nordic Harbin (built 2011).
However, no further details about what other ships would join the pool were given.
Earlier this year, the RSA added three more bulkers from Hong Kong owner Wah Kwong Maritime Transport and Stone Shipping onboard.
Wah Kwong placed the 63,500-dwt Oslo Venture (built 2015) under CTM management, while Stone Shipping contributed the 56,000-dwt Aquitania (built 2006) and the 61,000-dwt Amis Brave (built 2013).
Last year the pool attracted five new members and saw 27 new ships joining the pool.
Pool membership has no minimum duration and a three-month exit notice, plus no withdrawal fees and zero daily administration fees. It charges a 1.25% commission.
In 2019, CTM said the pool carried 23.5m tonnes of cargo, up 7% year-on-year, with coal, agricultural products and fertilisers among the top cargioes.
The team handled 466 fixtures at an average rate of 39 per month, with 159 counterparties.
