Norway boxship pool launched
A Norwagian consortium has established an independent containership pool to trade vessels chartered for shorter periods of time.
The Lloyds Containership Pool will target boxships of 1,000 teu-3,000 teu, and be managed by Lloyds Chartering, headed up by former Klaveness executive Knut Hundhammer.
The global trade collapse ended the longstanding industry practice that saw containerships generally chartered for periods longer than 12 months and larger ships for above 10 years, leaving owners to navigate a newly evolving spot market.
The pool aimed to provide the flexibility and efficiencies that would lower costs by as much as 25% for owners, to offset the disadvantage of operating in the spot market, based on existing models in the dry bulk and tanker sectors.
Mr Hundhammer said the company was in negotiations for vessels to join the pool, and did not intend to acquire assets, but remain solely as a management entity.
?LCP aspires to become a leading tonnage provider to liner operators, offering market terms with a much higher level of flexibility,? the company said.