01. Commercial Management
We continue to grow our fleet size and pool member base year-on-year, consistently demonstrating the benefits of pooling through the generation of above-market vessel earnings. Our ability to outperform is founded on access to the substantial information flow generated by our fleet. Together with a first-rate management team that has the skill to extract maximum value from the market intelligence we gather, we work with charterers to understand their needs and deliver optimised logistics solutions.
Navig8 Tankers provides commercial management for many vessel types through a range of pools, spanning both the clean and dirty products markets. 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 receivables facilities. These credit lines, provided by leading international banks, enable the pools to obtain cash advances on income earned but not yet received from charterers. With over US$100m of lines supporting the Navig8 Tankers fleet, we are able to most effectively transform revenue performance into enhanced cash distributions to our pool members.