Capesize Chartering Pool


Shipping mogul John Fredriksen moves commercial management of 10 newcastlemax dry bulk new-buildings from private firm Seatankers to Golden Ocean Group. John Fredriksen does not want these newcastlemax new-buildings competing with Golden Ocean Group. Norwegian shipping tycoon John Fredriksen’s private company Seatankers ordered 4 newcastlemax dry bulk new-buildings 210K DWT at Bohai Shipbuilding Heavy Industry and 6 newcastlemax new-buildings 208K DWT at New Times Shipbuilding. These ten (10) newcastlemax dry bulk new-buildings has not been backed by attached charterers, as John Fredriksen prefers a sport-oriented policy.

John Fredriksen’s Golden Ocean Group has a fleet of 46 capesize dry bulk carriers. 29 capesize dry bulk carriers are operated in the spot shipping market and the rest of the fleet has been chartered out with index-linked rates. John Fredriksen’s Seatankers ordered its 10 newcastlemax dry bulk carriers in 2017 at $45 million each. Currently, newcastlemax dry bulk carriers could probably be resold for $55 million each.

Tor Olav Troim led ship owner 2020 Bulkers ordered 8 newcastlemax dry bulk carriers at New Times Shipbuilding for about the same price. According to John Fredriksen, capeszie ship owners are suffering at the depressed freight levels that shipowners can only cover operating costs.

John Fredriksen’s New York and Oslo listed Golden Ocean Group is a member of the Capesize Chartering Pool, and John Fredriksen is extremely happy with this spot pool venture. Currently, Capesize Chartering Pool members:

  • Golden Ocean Group
  • Star Bulk Carriers
  • C Transport Maritime
  • Bocimar

Capesize Chartering Pool’s vessels conduct slow-steaming due to low freight rates. Capesize Chartering Pool was established in January 2016. Capesize Chartering Pool is flexible with 78 vessels. Capesize Chartering Pool has not considered laying up vessels so far in 2019.