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11-03-2020

Clipper Bulk to expand pool at the back of Klaveness’ Bulkhandling

Clipper Bulk and Klaveness have agreed to transfer the trademark, governance and key people of the Bulkhandling pool from Klaveness to Clipper Bulk. All current members of the Bulkhandling pool have been offered to join the new Clipper Bulkhandling pool, and the new pool management will jointly with the members agree on a strategy for further growth and expansion. Following this, Clipper Bulk will manage one of the leading pools for supramax and ultramax dry bulk tonnage in the world.

Bulkhandling – the pioneering pool

Bulkhandling dates back to 1963 and was the first pool operated in shipping. Bulkhandling has adapted to industry changes and market needs and offers today owners of supramax and ultramax bulkers easy and transparent access to the dry bulk spot market. Klaveness announced in November 2019 that Klaveness Chartering would scale down its activity in the Supramax segment and that they were looking for partners in their pool business. In January 2020 Klaveness announced that they joined forces with Marubeni to create the world’s leading dry bulk panamax pool. Today, Klaveness announced that the legacy of Bulkhandling will be continued under Clipper management.

Lasse Kristoffersen, CEO Torvald Klaveness says, “The Bulkhandling pool is seen as market leading and have significant potential for growth. We believe this can best be achieved under the wings of Clipper and we are confident that they will be able to deliver an even better product to more owners in the future”.

Clipper Bulk to boost its pools

Clipper Bulk has more than 20 years track record in dry bulk pools and has over time demonstrated an ability to deliver premium earnings to its members. The company has strong growth ambitions in the supramax and ultramax segments and will build their future pool offering around the position, governance and key people of Bulkhandling and Clipper.

Peter Norborg, CEO Clipper Group says, “By combining the best of Bulkhandling and Clipper Bulk, we believe we will offer a unique product to the dry bulk market. The legacy of Bulkhandling and the commercial craftmanship of Clipper Bulk will secure the owners premium earning, full transparency and robust governance”.

Pool offering attractive in the current markets

The dry bulk market is currently going through a very challenging time. Seasonal lows, coupled with significant uncertainty connected to the Covid-19 virus, has caused a historically low market. For owners of vessels, it is very challenging to find good opportunities in the Time Charter market, and the pool offering is seen as very attractive by many.

Kristoffersen says, “We are very happy to offer our pool members an improved product in these challenging times. It is always Klaveness’ priority to make sure our customers get the best service and offering possible and we believe we have found that in Clipper Bulk.”

Norborg says, “This is the time to join pools. And with the integration of the Bulkhandling owners, experience and governance into our pool, we know that several other owners are close to joining. We look forward to announce new pool members in the near future”.

The road ahead

The transfer of rights and employees from Klaveness to Clipper Bulk will formally take place on April 1st. But the team is already working to ensure a smooth transition. The vessels that will join the new Clipper Bulkhandling pool will be transferred as soon as practicable after April 1st. Klaveness will furthermore ensure that the Members are well taken care of until the transition is completed.

Norborg says, “We are ready and will not wait until April 1st to get moving. We have something to offer and now it is time to show that to the market”.

About Clipper

Clipper Bulk is an industry leader in dry bulk, an operator, a pool manager and a specialist in steel services. Clipper Bulk operates a modern fleet of approximately 75 handysize and supramax vessels, transporting a wide range of cargo from dry bulk to break bulk. Clipper Bulk is commercially headquartered in Copenhagen and employs a staff of 110 on shore worldwide. Clipper Bulk is a global workplace with strong values. Clipper Bulk is part of the Clipper Group, which also owns Seatruck Ferries, a modern roro ferry company running three services on the Irish Sea.

About Klaveness

Torvald Klaveness is a dry bulk operator, service provider and integrated owner. Through Klaveness Combination Carriers the company has a unique concept of combination carriers, and through Klaveness Container provides container feeder vessels to various operators. Klaveness Digital has developed the world’s leading platform for managing seaborne logistics and all businesses continue to challenge the status quo. Klaveness Dry Bulk is a leading operator and together with Marubeni the leading pool manager in the Panamax dry bulk segment.

The success and legacy of the company has always centered on finding new ways to improve technology and business models in shipping. Its vision of Improving the nature of shipping underpins its continued commitment to changing and improving the industry that Torvald Klaveness is a part of.

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