Genco Shipping & Trading and Clipper formed a new supramax pool.
Peter Georgiopoulos’s Genco Shipping & Trading will contribute half of the 16 vessels in the initial fleet of the Clipper Sapphire Pool.
“We are pleased to continue to grow our pool management business which now carries a 20 year track record of performance.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.” said Gary Vogel, chief executive of Clipper.
Second co-operation, in 2013 Baltic Trading and Clipper established a handysize Clipper Logger Pool established. Supramax rates at basement levels after a terrible fourth quarter of 2014 for the dry cargo market.
Supramaxes are presently trading at around $9,000 daily in the spot market, down from $13,000 per day at this stage a year ago.