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Clipper Takes Over Klaveness Pool

Image from left: Hans Næss Olstad, VP Head of Sales Marketing in Torvald Klaveness, Peter Norborg CEO in Clipper Bulk A/S, Lasse Kristoffersen CEO in Torvald Klaveness and Tom Harald Gjerdingen Head of Bulkhandling in Klaveness.

Laxman Pai

Danish dry bulk specialist Clipper Bulk announced that it would acquire the Bulkhandling shipping pool of Supramax and Ultramax vessels, from Norwegian shipowner Klaveness.

The Bulkhandling pool dates back to 1963 and was the first pool operated in shipping.

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.

Lasse Kristoffersen, CEO Torvald Klaveness said: "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 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 said, "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 craftsmanship of Clipper Bulk will secure the owners premium earning, full transparency and robust governance".

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.

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 said: "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".

Mar 12, 2020

 

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