Dry bulk vessel owners look to pool operators to stem losses

摘要

With tonnage oversupply andabysmal returns plaguing the dry bulk freightmarket, bruised Supramax, Panamax andUltramax owners and operators are looking atways to survive. To stem mounting losses amid theeconomic slowdown in China and depressedcommodity markets, some Panamax andSupramax shipowners are placing their vesselsin the control of shipping pool operators. Ashipping pool is a group of similar types ofvessels from various owners placed underthe control of a commercial entity that tradesthem as a single fleet and "pools" the earnings,which are then distributed to owners.