Latest news from Heavy Lift & Project Forwarding International Magazine

German owners form shipping pool

June 11 - BHS Pool Weser-Ems is a new joint venture founded by shipping companies Briese and Harren & Partner to create a shipping pool for heavy lift vessels.

Initially, the pool will consist of 15 ships and be managed by the respectively connected affreightment companies BBC Chartering and Combi Lift.

"All involved vessels can expect to see higher profits as the freighters are concentrating on their respective core competencies", affirms Roelf Briese, CEO of Briese Schiffahrt.

"With the pool's affreightment companies being part of the shipping groups, they will show substantial ownership interest in the vessels' employment. Therefore, achieving sufficient freight rates will always be of highest priority to all parties involved," adds Dr Martin Harren, managing director of Harren & Partner.

An official statement by the joint venture partners states that the current heavy lift market is shaped by an oversupply of young vessels whilst the demand is recovering slower than expected. The resulting drop in freight rates is worsened by affreightment companies who do not have particular ownership interests in the vessels and are exempted from fixed repayment obligations by their banks as part of so-called "pay - as - you - earn" agreements.

Briese and Harren & Partner add that the pool offers ship owners a strategic concept for consolidation and, once established, will be accessible to other ship owners.

"The BHS Pool Weser-Ems is an interesting consolidation concept, representing a straight forward strategy for today's ship owners. At the same time, our freighting services are becoming more attractive for our clients, due to the bundling of knowledge and competencies as well as the advantages of a larger fleet", remarks Svend Andersen, CEO of BBC Chartering. "It is our foremost goal to achieve pool rates that beat the market on a regular basis. All involved companies are committed to this", Anders Poulsen, COO of Combi Lift in Denmark, agrees.

The two companies say that they see no alternative to the consolidation of the supply side.

Some readers may recall that Briese Schiffahrts and Fehn Ship Management said in April 2013 that a jointly executed strategy to 'shorten shipping capacity' should help to increase rates to adequate levels again, and add that they hope other  shipowners will be inspired to follow their example to temporarily lay-up a share of the general cargo fleet, especially in the field of European coastal shipping.

 

 

www.briese.de

www.harren-partner.de

www.bbc-chartering.com

www.combi-lift.eu

Heavy Lift | News

Meyer steps down from Zeaborn thumbnail image

Meyer steps down from Zeaborn

July 18 - Ove Meyer, co-founder of Zeaborn has resigned as managing director, including his role at Zeamarine.
Views: 271
Bishop takes AWRS thumbnail image

Bishop takes AWRS

July 18 - Bishop Lifting Products has completed the acquisition of American Wire Rope & Sling (AWRS), a leading provider of rigging, lifting and overhead crane solutions.
Views: 239
CITB readies for Alaska’s ice-free season thumbnail image

CITB readies for Alaska’s ice-free season

July 18 - Cook Inlet Tug & Barge (CITB), a subsidiary of Foss Maritime Company, has announced that the 2019 ice-free season on Alaska’s North Slope are under way.
Views: 199
Sutton steps up at Crowley thumbnail image

Sutton steps up at Crowley

July 18 - Crowley Maritime has appointed Peter Sutton as vice president of operations integrity and health, safety, security and environment (HSSE) for its shipping business unit.
Views: 228

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.