STENA SONANGOL SUEZMAX POOL
The Stena Sonangol Suezmax Pool is comprised of vessel Owners and supports Chartering services who wish to leverage their position through spot market fluctuations. The Pool absorbs some of the market volatility risk by spreading it over several vessels that trade on the open spot market.
RISK MANAGEMENT
With market volatility, a pool participant’s shipping risk is spread across the entire pool fleet, thus greatly reducing the fluctuations that come with a fast-changing market.
MARKET INTELLIGENCE
Through their resources to obtain market data, Stena Sonangol is able to quickly assess current market conditions and in turn make quick effective decisions.
CARGO ACCESS
Stena Sonangol has continuously developed and maintained close customer relationships. This has helped to establish cargo agreements allowing for high utilization of the fleet.
SHIP ACCESS
For a cargo owner a ship put in the Pool gives access to the whole Pool fleet.
WORLDWIDE COVERAGE
The Pool has offices in Houston, Gothenburg and Singapore. In addition, Stena Bulk and Sonangol provide the Pool with global resources and support.
SUPERIOR SERVICE
Pool participants are able to utilize our commercial expertise and can feel confident that their ships are being traded and operated with high standards and in the owner’s best interest of reaching each ship’s earning potential.
FUNDAMENTALS OF THE POOL
The Stena Sonangol Suezmax Pool is comprised of vessel Owners and supports Chartering services who wish to leverage their position through spot market fluctuations. The Pool absorbs some of the market volatility risk by spreading it over several vessels that trade on the open spot market.
To achieve this all vessels in the Pool are assigned Pool points to ensure a neutral and equitable system for the net revenue distribution which can:
- readily be described and is transparent to vessel owners
- be used to evaluate new vessels entering the Pool
Net revenue distribution is defined here as pool freight revenue for any given period less all voyage costs expenses.
The fundamentals behind this system, developed by Richardson Lawrie Associates (RLA), is that it 'values' vessel characteristics from the perspective of their impact on net voyage earnings in each market sector measured against benchmark voyages. All vessels are 'traded' on all routes within each market or market sector to ensure that relative strengths and weaknesses are captured. Generally, data is derived from a trading period of approximately one year and reviewed every six months.
The results from the relative earnings assessments are thereafter allocated weightings to the individual routes used. The weightings are based on trade volumes, fixture quantities and the actual or prospective business profile. Pool points for each vessel, or each class of vessel, is derived from this part of the Model. The pool points are used within a formula that provides the 'net revenue distribution factor' for each vessel or class of vessel. The distribution factor is used to provide the allocation of income for each given vessel prior to deduction of any pool management fees.
This system ensures that over time the Pool participants benefit from the Pool’s overall performance while reducing the impact of market volatility.
ABOUT US
Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company.
OUR FLEET
The Stena Sonangol Pools are comprised of and support both charter services and owners who wish to leverage their position through market fluctuations. The Pool absorbs some of the risk by spreading it over several ships vs. one or two ships that would trade on the open spot market.
OUR OFFER
The Stena Sonangol Pool has formed a team dedicated to the success of the Pool and its participants. All are highly experienced in the global shipping industry. If you have any questions about the Pool or pool participation please contact the Pool’s headquarters in Houston.
