Genco Shipping and Trading has put up half of the 16 ships already committed to join the pool early this year, with the remainder supplied by Clipper.
The Genco Pyrenees was the first vessels to join the pool, and Clipper is actively seeking to expand the venture beyond the 16 ships already committed.
Clipper is also in discussions to form a pool for 63,000 plus dwt ultramaxes, of which the company operates eight. In total Clipper operates around 100 dry bulk ships, 52 of which are within its four pools, The Trader Pool, Sapphire Pool, Emerald Pool and Clipper Logger Pool.
“We are pleased to continue to grow our pool management business which now carries a 20-year track record of performance,” commented Gary Vogel, partner and ceo of Clipper Group. “We are strong advocates of pooling, not only from a manager’s perspective, but from that of an owner, as we directly reap the benefits of efficiencies and economies of scale alongside the other pool members.”
John Wobensmith, president of Genco added, “We have been very pleased with our participation in the Clipper Logger Pool, so it was a logical decision to extend our relationship into the supramax space as well.”
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