Why our Pool Members get the full upside when a vessel outperforms!
Image: MV Coral Ring
We are pleased to share in Q1 2022, Pool Member Mizuho Sangyo successfully received an additional USD 94,563 on their vessel, the MV Coral Ring, with Baumarine by MaruKlav. Equivalent to an additional USD 1,383/day, the vessel over-performed by 7% on speed/consumption initially guaranteed by owners when first joining the Pool. Deputy MD of MaruKlav, Masashi Kobayashi reveals why:
As it is known in Period TC deals, shipowners do not get any upside from a ‘better-than-described’ performance, but only Speed Claims from an under-par speed/consumption. To avoid such Speed Claims, some Shipowners tend to favor describing their vessels more conservatively, i.e., in most cases leaving money on the table.
We are challenging that status quo in Baumarine by MaruKlav. We continuously monitor the actual performance of the entire Pool fleet from Day 1 and pay our members additional earnings through a ‘Quarterly Redistributions’ model to vessels when they perform better than described.
We believe shipowners who maintain their assets well should get full upside from a better performance and have set up the fair mechanism to do so and will continue to deliver added value to our members wherever possible.
A spokesperson for Mizuho Sangyo adds, “we have learned there are many benefits for owners joining Baumarine by MaruKlav, but this Quarterly Redistribution mechanism is one of the best examples of demonstrating the mindset of fairness Baumarine by MaruKlav has for its members.”