Pool will have a fleet of 65 modern capesize ships managed in Singapore and in Antwerp
NEW York-listed Star Bulk Carriers has inked a capesize vessels pooling agreement with Bocimar International, Golden Ocean Group and C Transport Holding, writes Wei Zhe Tan.
Under the agreement, the Athens-based company will market nine of its capsize dry bulk ships as part of the CCL fleet. The nine ships were previously traded in the spot market.
Adding in Star Bulk’s nine ships, the pool will have a fleet of 65 modern capesize ships managed in Singapore and in Antwerp, Belgium.
The vessel owners will continue to handle operations, accounting and technical management for their individual ships.
“Star Bulk expects to achieve improved scheduling ability through the joint marketing opportunity that CCL represents for its capsize vessels, with the overall aim of enhancing economic efficiencies,” it said in a statement.
The company disposed of a capesize ship earlier this month for $23.3m and another newbuilding resale capsize in January for $37m as it sought to boost its cash reserves amid a dismal backdrop to the dry bulk market.
Star Bulk’s fleet comprises 71 operating vessels and 14 newbuilding ships being built at yards in Japan and China. It also has one chartered-in supramax vessel under a time charter expiring in September 2017.