01. Commercial Management
We have grown our fleet size and pool member base year-on-year by consistently demonstrating the benefits of pooling through the generation of superior vessel earnings. This continuing success is founded on access to, and innovative usage of, the substantial information flow and market intelligence generated by our fleet, together with a first-rate management team that listens to and works with charterers to understand their needs and deliver optimised logistics solutions.
Navig8 Chemicals provides commercial management through a range of pools, each dedicated to specific market segments. Please see our fleet list for details of the pools and the vessels under management in each of them.
Each of the pools operates an objective, transparent vessel evaluation (“Pool Points”) system, which assesses every pool vessel’s trading characteristics (e.g. dwt, loading capacity, IMO status, trading exclusions) and performance, and attributes a Pool Point “score” to the vessel. Net pool earnings (after deduction of voyage and management costs) are distributed regularly to pool members according to each vessel’s Pool Points and its trading days in the relevant period.
All of the pools benefit from the enhancement of a receivables facility. This credit line, provided by a leading international bank, enables the pools to obtain cash advances on income earned but not yet received from charterers. With over US$25m of credit support for the Navig8 Chemicals fleet, we are able to most effectively transform revenue performance into enhanced cash distributions to our pool members.