Qatar’s S’Hail Shipping and Maritime Services has added its two latest bulker acquisitions to the Klaveness-run Baumarine pool.
The two ships – the 76,629-dwt S’hail al Rayan (built 2006) and the 74,143-dwt S’hail al Dukhan (built 2005) – entered the pool in June.
S’hail, which was only established in December 2016, now has five of its seven strong fleet entered in Klaveness pools.
It acquired the two ships in late May 2019 in a deal worth a reported QAR 75m ($20.6m) in total. The identity of the sellers was not disclosed at the time.
The S’hail al Rayan is the former Chris, which was purchase from Greek shipowner Chandris, while the S’hail al Dukhan is the former Paquis, which was acquired from Japanese owner Santoku Senpaku, according to online valuations platform VesselsValue.
S’hail Shipping’s chairman Mohamed Khalifa Al-Sada and chief executive Rajiv Pal said being part of the pool has been “mutually beneficial” for both parties.
They both added that they would “like to explore the possibility” for further expansion in its cooperation with Klaveness.
“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,” said Hans Næss Olstad, head of pool management at Klaveness.
“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.”
Klaveness, which has been running dry bulk pools for over 50 years, currently has two pools - the Bulkhandling pool for handymax, supramax and ultramax vessels as well as the Baumarine pool for panamax, kamsarmax and post panamax vessels.
The pools operate within a three-month mandate and are aligned with the Baltic spot indices, according to the shipowner.
