The Board of Directors will be composed of 5 members; 3 appointed by Gearbulk and 2 appointed by Grieg Star. The two companies both have strong corporate cultures and values, and we aim to take the best from the two, and merge them into one strong, customer-oriented culture, says the Chair of Grieg Star, Elisabeth Grieg. The name of the joint venture is yet to be decided, but it will be established as an independent Norwegian company with headquarters in Bergen, Norway and with own resources and offices around the world.
This Administration markets the vessels as a single, cohesive unit and collects the earnings which, in due course, are distributed to individual owners under a pre-arranged weighing system by which each entered vessel should receive its fair share The underlined parts in the above two definitions summarise the main, more or less common to all, characteristics of bulk pools.
These could be described as: The idea behind Cost accounting of gearbulk shipping pools is that usually similar tonnage is pooled together and there is not much scope in trying to enter a bulk carrier, a tanker and a reefer in the same pool. No matter how appealing such an idea might appear, the predominant reason for creating a pool, as explained below, is the possibility of undertaking large contracts of affreightment CoA.
Notwithstanding the necessary flexibility for such a venture, the required tonnage should be of a more or less similar type so that cargo and ship switches and optimum fleet deployment could be effectively managed. Furthermore, the idea of joint ventures between pools is also not uncommon.
Together, the two groups manage to have an effective world-wide, pendulum-type, operation, given that one is specialising in the Atlantic and the other in the Pacific, and the underlying commitment of the two partners is that the one is trying to fix the other's vessels when they become open in their respective markets.
Joint marketing may be the single most important characteristic of a bulk pool. In most pools, the fleet is marketed as a single, cohesive entity by the Pool Management Company PMC which, in actual fact, is a chartering company responsible for the management of the commercial activities of the pool.
Usually, the ships are painted with the name of the pool on their side and are traded in such a way that the charterer identifies the ship by that name and he is not interested, or has no reason to be interested, who the actual owner of the ship is.
Regarding the administration of the pool, the distinction is sometimes made between member- controlled and administration controlled pools Packard, A member-controlled pool is usually formed by one or two main partners having as an objective to jointly undertake existing large CoAs.
Often, these contracts originate from customers with whom the pool partner s has some long-term, stable, business relationship. The Norwegian HUAL car-carrier pool, for example, has such a relationship with the Japanese car manufacturer Toyota that runs for more than 20 years.
In pools such as this, an exact pool agreement or an elaborate weighing system are considerations of secondary importance in the sense that the partners know that the "business" is there, it is well defined, and if the work is properly done there should be enough reward for all.
The pool agreement becomes, thus, just another legal document filed away for the case of an unlikely eventual controversy. In these pools, additional membership is considered very carefully and it is decided mainly for reasons of optimizing operations.
Potential new members have of course a strong interest in joining such a pool - even at sometimes unfavourable terms - not only because of the prospects of securing long-term employment but also because of the possibilities that may now be opened to them to develop important business contacts with cargo owners and enter the contract market that is, in most cases, reserved for the selected few.
An administration-controlled pool has usually a different business philosophy. Although here too a dominant partner may be found, the strategy of the pool is one of building up a fleet comprising many different shipowners which, under efficient management, will acquire the required "critical mass" that would enable it to bid for contracts but not onlyenjoy economies of scale, become visible to charterers by its size and standards and, finally, through its diversification and risk-spreading, enable it to give its members an adequate return on their investment.
Such pools are many times listed in the various Stock Exchanges and appeal to private, corporate and institutional investors, and in general to investors not necessarily connected to the shipping business but with available funds that are seeking attractive investment opportunities.
A typical pool in this category is the Norway-based Western Bulk Carriers handysize bulk pool, mentioned above. Administration-controlled pools are usually the most transparent and open to scrutiny. In such pools, the existence of a detailed, comprehensive, unambiguous and widely available pool agreement including the weighing system is of 2 paramount importance, not only because of the nature of the pool's membership but because this document is the one to be used for convincing and attracting interested new members.
In most cases, the Pool Management Company PMC will collect the freights itself and it will eventually distribute the net result to the members of the pool, after deducting its commission and all voyage costs incurred. There may be cases, however, where freights are directly received by the members who, after deducting an agreed allowance for running costs, are pooling the remainders together and it is these latter amounts that are distributed according to the pool's distribution formula.
The PMC is responsible for effecting payments for all voyage costs of the pool, i. All other capital and running costs, such as loan repayments and interest, manning, insurance, maintenance, etc. The owner is thus responsible for manning and the technical management of his ships, either directly of through assigning them to a specialized ship-management company.As the state's flagship university, the UW functions more students than every other establishment in the Northwest.
Founded in , the University of Washington is among the earliest state-supported associations of higher education on the West Coast and is among the .
SEQ, Equipment, Insurance and Accounting departments, Onboard personnel Fleet Operations worldwide External: Flag States, Port Authorities, Suppliers, Classification Societies About the Company Gearbulk is an international shipping group providing high quality transportation services for various industrial sectors.
Croatia Technical Supervisor at Gearbulk Maritime Education Maritime Faculty Rijeka — Bachelor's degree, Financial Accounting, Accounts Payable, Financial Controlling, Cost Accounting, Cash Flow, Consolidation, Internal Controls, Financial Reporting, Financial Audits.
Combustible Gearhulk card price from Kaladesh (KLD) for Magic: the Gathering (MTG) and Magic Online (MTGO). A bulk carrier, bulk freighter, or bulker is a merchant ship specially designed to transport unpackaged bulk cargo, such as grains, coal, ore, and cement in its cargo holds.
Since the first specialized bulk carrier was built in , economic forces have fuelled the development of these ships. Learn how much companies pay their employees. Browse company salaries, reviews, benefits, bonuses, and more from data provided by real employees.