The Panamax market has in June seen high volatility in both basins, mainly driven by the East Coast South American grain market and the possible consequences of the trade war between USA and China.
Baumarine entered June with a low coverage and increased our position taking towards the end of the month. The key focus was covering our Pacific vessels earlier and play our Atlantic positions more spot.
With the good timing of fixtures, the pool has delivered a daily net result of USD 12,312 (equivalent to a gross earning of USD 12,960 per day). This is USD 1,553/day above the benchmark for June.
The Pool Members gets access to the Klaveness dealflow and network of well reputable charterers. Furthermore, they enjoy the flexibility which allow conversion to a fixed rate at any given time, and can by this take the full benefit of the market volatility without having the position risk.