New Panamax Revenue Sharing Agreement announced
Following the good track record of the Supramax RSA, CTM is bringing together the spot Panamax vessels it has under management to create a Panamax Revenue Sharing Agreement. This Revenue Sharing Agreement will be actively marketed to bring more Owners under one commercial umbrella in order to bring the benefits of economies of scale and a better globally positioned fleet in order to offer a better service to our clients (charterers and end-users).
The concept for pooling is not new with CTM having successfully actively operated CTC for Capesizes and CTP for Panamaxes and in the last three years the Supramax RSA. The model back then (CTC and CTP) was a pure Operator model utilising both cargoes and vessels. This time around the concept is more simple (like the Supramax RSA) —all vessels will be run on the spot market, managed under one roof and revenues will be shared amongst the participating member vessels. Entry and exit are made as flexible as possible to allow Owners operational flexibility over their vessel i.e. in case of sale of vessel(s) or desire to fix out on longer period.
CTM’s performance over the years coupled with its in-house risk management and analysis has the tools to provide members with an added-value service. The similar Supramax venture has proven to be a successful one, in terms of performance and client offering, having started in January 2013 with 5 members and 12 vessels to reaching 13 members and 41 vessels today.
Flexibility without unnecessary costs
- No daily administration fees are charged in the RSA;
- only 1.25% commission No withdrawal fees;
- Flexible 3 months exit notice
Facts and Figures of CTM spot managed fleet today
- Average DWT: 84,500 dwt
- Average age: 3 years
- Sizes: 76,000-95,000 dwt
CONTACT: commercial@ctmmc.com / Tel: +377 97 98 59 00
ABOUT CTM: CTM is a highly qualified and experienced vessel management company in the dry cargo ocean transport industry. Established in Monaco in 2004, the company currently manages a fleet of 90-100 dry cargo vessels in the Supramax, Panamax and Capesize segments. All operations are centralised in the Monaco office where all 70 staff are employed to optimise communication between departments and ensure an optimum service to our clients. The company’s foundations are based on its technological expertise and the professionalism of its managers and employees all of whom have years of experience in the commercial, operational and technical management of dry cargo vessels and good seamanship. The company is also active in offshore dry bulk logistics in a joint venture with Swire Group’s The China Navigation Company Pte. Ltd.