Capesize Chartering Ltd

CAPESIZE CHARTERING LTD
Capesize Chartering Ltd. Logo

Capesize Chartering Ltd (CCL) was formed in January 2016 by CTM, Bocimar, Golden Ocean and Star Bulk – four companies with a strong presence and established histories in shipping. With their strong commitment to the dry cargo market, the resources to do so, and the ability to withstand constantly changing environments they joined forces to bring together their respective Capesize fleets to facilitate global trade in iron ore and coal.

The benefits of partnership, cooperation and the idea that two minds are better that one has led to the creation of CCL. In today’s very fragmented Capesize market this joint venture provides an efficiently run, well maintained fleet with the utmost attention to global regulations, safety requirements and client satisfaction.

Efficient Operations

Operating in a highly competitive industry, CCL provides competitively priced bids and more efficient trading operations to serve its customers. Neither of the standalone companies in the venture is as efficient operating on it own. together vessels can be made available worldwide at shorter notices, time and cost savings are achieved for all involved thanks to less re-positioning (less demurrage and ballast bonuses) and the achievement of economies of scale.

A ‘Light Pool’

CCL as the Pool Manager only carries out commercial activities – hence the term ‘light pool’ . Every contract of employment is entered into under the name of the relevant Owner/ Member. All activities beyond Commercial management (such as operational, accounting, legal, insurance and technical) are handled by the Owners of the vessels. Bunkering is performed by the relevant Owner in close cooperation with the Pool manager.

In the event that a willing participant does not want to keep these responsibilities they can out source all of them to CTM or one of the other Founding Members of CCL.

Experience

Long standing industry contacts and experience with the major operators and charterers.

Minimizing Idle time

Minimizing Idle time and repositioning expenses.

Market Data

Access to wide ranging market analysis

Economies of Scale

Economies of Scale lead to cost reductions More Vessels. This means increased information and more opportunities

Less Ballast Voyages

Shorter spread between loading dates

The Revenue Sharing Agreement

n CCL all vessels are traded on the sport market. Each Owner collects freight/hire for their own vessels. The vessels earnings are distributed to each Member according to the Pool Points of the vessel and through a quarterly netting amongst the Pool Members. To establish the Pool Points all vessels are assessed on the 7 BCI Voyage Reports (C2, C3, C4, C5, C7, C15 & C17) basis their “eco” speed descriptions. Performances will be constantly monitored and as such pool points can be amended in the case of over or under performance of a vessel (no retro-active adjustments)

Qualifying VesselsStandard Capesize 170,000 - 180,000 deadweight; not older than 15 years.
Pool Manager's authorityUp to 6 months; but anything over 3 months requires the consent of the Participant Owner
Contracts of AffreightmentCCL can take COA's of maximum 10 months duration.
Entry of VesselWorldwide; no positional benefit
Withdrawal60 days notice. No fee; no penalty.
Working Capital RequirementsNo WC requirement
Governing AgreementBimco Standard Agency based Pooling Agreement (Poolcon B)
Reference CharterNYPE 2015.
Joining the PoolAnnex E (Accession Agreement) to the Poolcon B
RINA Certified Management System ISO 9001 ISO 14001
UKAS and ISO 9001 and ISO 14001