As we mark the completion of our eighth year in partnership with S’hail Shipping and Maritime Services, we recently gathered at their headquarters in Doha for our annual meeting. This event allowed us to connect with their new Chairman, Mr. Jaber Lai Ali R. A. Al-Mohannadi, and CEO Mr. Rajiv Pal, alongside their dedicated teams.
Our discussions not only aimed at strengthening our collaboration but also highlighted the success of our partnership. Baumarine’s fixed hire conversions have been instrumental in helping S’hail enhance its earnings and seize market opportunities more effectively.
Looking ahead to 2024, the fixed hire conversions at market peaks have yielded an impressive upside of over $915,000, matching the outstanding performance achieved in 2023. Notably, the process has become much more efficient and streamlined.
S’hail’s consistent use of this fixed hire service was a topic of discussion between Mr. Pal and Ignacio Pizarro, Global Head of Partner Relations at Baumarine. Mr. Pal remarked on the improvements made after providing feedback on fixed earnings, emphasizing the direct access and timely communication established with Baumarine’s financial trading teams for quick and accurate fixed rate indications.
He elaborated on the benefits of this arrangement, explaining how it alleviates the financial risks associated with spot performance in the pool. By securing fixed earnings at market peaks, S’hail has effectively created a hedge against market volatility.
The flexibility to convert earnings without being affected by a vessel’s opening position was a significant advantage highlighted by Pizarro, ensuring members can maximize their earning potential regardless of market conditions at the time of conversion. Mr. Pal concluded by noting that Baumarine operates responsibly, providing a secure trading environment with high operational standards, enabling his team to focus on fleet expansion and strategic decisions.
Carl-Martin Graf, Head of Baumarine, added that ongoing engagement with both current and prospective partners is essential for challenging industry norms and refining business models. In summary, Baumarine deeply values its collaboration with S’hail, affirming that while daily interactions are crucial, in-person meetings facilitate more profound strategic planning and partnership development.