The Baumarine by MaruKlav bulk carrier pool says it has outstripped Baltic Exchange benchmark earnings in the first quarter.
Rates for the joint venture between Norway’s Torvald Klaveness and Marubeni Corp of Japan ended March $3,226 per day above the P5TC index, which is based on five panamax time-charter routes.
Pool head Carl-Martin Graf said: “While securing strong Q1 earnings, we have continued to build for successful results in Q2 and the rest of the year with a very good positioning of our fleet within the different basins.”
April’s forecast is showing earnings of $2,376 per day above the benchmark.
“In April, we have all our Pacific fleet open in premium positions, and five ships opening in the Indian Ocean,” Graf revealed.
The boss explained the pool has already fixed three repositioning legs from the Pacific to the Atlantic without having to discount the market.
“This puts us in a good position going into the second half of the year, where we can send ships from the Atlantic to the Pacific whenever we see peak premiums,” he said.
Graf believes the pool is ready to take full advantage of stronger Atlantic rates.
“The pride and joy of taking care of our clients’ assets and being the viable alternative to the period time charter market is what drives me," he said.
“Even though Baumarine has delivered good results over time, it is the continuous search for new areas of improvement that drives us in Klaveness,” Graf added.
Forward freight deals
The panamax pool has a large fleet of about 30 ships spread across the world and is also actively using the forward freight market to lock in margins and adjust its position towards market movements.
In February, the operation said it had expanded again, adding a new Indian owner to its ranks.
The company welcomed Intersea Maritime’s first and so far only vessel, the Imabari-designed 74,100-dwt Intersea Voyager (built 2001).
The veteran vessel was delivered to the pool in early January, the second new ship to join this year.
