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Thoresen Grabulk Pool will help ship owners maximise vessel utilisation rates Singapore, 12 November 2014 Thoresen Shipping, a leading owner and operator of dry bulk Supramax vessels, today launched an industry leading new commer cial pooling service, “Thoresen Grabulk Pool”, for ship-owners and operators of Supramax and Ultramax vessels, that will deliver enhanced utilization and returns for their vessels. The new service will leverage the highly competitive and global commercial team that Thoresen has been building over recent years, which consistently outperforms the BSI market while also adding a consistent profitable third party contribution. Members of the new pool will benefit from consolidated commercial management that will market each vessel as part of a unified, single cohesive fleet in niche trades. A multi-faceted benefit scheme provides ship-owners with the flexibility that their fleet requires guaranteed transparency and fair-treatment. Members’ assets wi ll also enjoy access to COA (contract of affreightment), short period, and hedging services. The limited entry, niche, pool fleet will benefit from Thoresen Shipping’s growing client base, following the expanded geographical footprint the Company has been building over the last few years. Thoresen Shipping now has offices in Bangkok, Singapore, Copenhagen and Cape Town, and will also add an office in Dubai at the beginning of 2015, which further strengthens the Company’s ability to deliver a service that meets the needs of customers with dry bulk cargo requirements. The new pool service will be led by director of Thoresen Shipping Commercial Team Mr. Henrik Jeremiassen who has over 15 years of experience in dry bulk commercial operations in several sectors including Supramax, and will leverage the Thoresen Shipping Commercial management Team led by Mike Anderson, a Supramax drybulk veteran of 25 years. “Supramax/Ultramax dry bulk shipping desperately needs the consolidation currently present in the Cape sector and container shipping. In considering the demand side of dry bulk, the majority of seaborne cargo is currently controlled by a relatively small number of industrial majors, whereas the supply side of Supramax/Ultramax is highly fragment ed with intense competition among owners for freight,” said Mike Anderson, Commercial Director, Thoresen Shipping yesterday. Mr. Anderson noted that many owners carry the disadvantage of having relatively inexperienced commercial management determining freight charges and thereby perpetuating an unhealthy owners’ environment. “Industry consolidation and professional pooling among owners i s going to be a critical component in restoring a sustainable model with a more stable pricing environment moving forward, benefitting freight and vessel alike,” added Mr. Anderson. New pool members are expected to benefit from Thoresen Shipping’s experience in building a strategic presence in higher yielding routes, with a focus on premium service and niche cargos targeting a diverse set of clients including a growing group of industrial majors. “We have spent the past several years proving our operational capabilities to be best in class,” commented Mr. Ian Claxton, Managing D irector, Thoresen Shipping. “We now believe we can take them to market, thereby enabling owners of homogenous Supramax and Ultramax tonnage to benefit from economies of scale and enhanced returns on their assets. This pool will enable all members to benefit from a solid Thoresen reputation, and the enhanced performance that comes with quality, efficiency and solidity.” Pool members will benefit from an online, and mobile, reporting platform that will provide an up-to-the-minute status of their vessel and Pool earnings to their mobile device or tablet, as well as, receiving regular monthly and quarterly reports. About Thoresen Shipping Thoresen Shipping is the dry bulk shipping arm of Stock Exchange of Thailand listed strategic investment group Thoresen Thai Agencies Plc (TTA). The business operates under two wholly owned subsidiaries of TTA, Thoresen Shipping Singapore Pte. Ltd. (TSS) and Thoresen & Co., (Bangkok) Ltd. Thoresen Shipping has chartering offices in Copenhagen and Cape Town to serve the needs of clients with cargos in the Atlantic and Mediterranean regions. Thoresen Shipping boasts a modern fleet of 24 owned Handymax and Supramax class vessels, comprising an effective balance of seven geared and grabbed fitted bulk carriers and 10 “open hatch box shaped hold” vessels. For more information, please visit www.thoresenshipping.com About TTA Thoresen Thai Agencies Public Company Limited (“TTA”) is a strategic investment holding company listed on the Stock Exchange of Thailand (TTA:TB). Its investment strategy is to grow through a balanced and diversified business portfolio both domestically and internationally. TTA’s businesses include but are not limited to dry bulk shipping, offshore oil & gas services, fertilizer production and distribution, and integrated port and logistics services with assets valued at over THB 49 billion and market capitalization over THB 30 billion (as of September 30, 2014). For more information, please visit www.thoresen.com. Thoresen Thai Agencies Plc. press release |
