Heidmar believes that trust and strong relationships come through hard work and transparency.
Heidmar Hosts Hong Kong Pool Huddles
May 30, 2014
Heidmar’s Blue Fin and Seawolf pools held their Executive Committee meetings in Hong Kong on May 14 and 15.
Pool members from across the globe, representing 25 ships in the two pools, gathered together for presentations and discussions and bonded together over group lunches and dinners in the Pearl of the Orient.
Attending members included Mr. George Zhou (COSCO Dalian, China), Mr. Anselm Gehling (Dr. Peters Group, Germany), Capt. Marek Lipiec (DS Tankers, Germany), Mr. Jan Bartels (Hansa Shipping, Germany), Mr. Steven Fitzgerald (Ridgebury Tankers, USA), Mr. Christian Salamon (Salamon AG, Germany), Mr. Christos Kalogeras (TMS Tankers, Greece), Mr. Vincent Phua (U-Ming Marine Transport, Singapore), Mr. William Fairclough and Capt. Zhou Jian Feng (Wah Kwong Maritime Transport, Hong Kong).Mr. Ben Ognibene (Heidmar) and Mr. Stephen Yeoung (Unique Shipping).
With business concluded, Heidmar hosted a cocktail party for its esteemed pool members and local marine industry luminaries at the Hong Kong Maritime Museum.
Guests from a broad spectrum of the industry from bankers to tankers were welcomed by Heidmar CEO Ben Ognibene, and enjoyed drinks, hors d’oeuvres and networking opportunities at this very special location overlooking Victoria Harbour.
In addition to our visiting partners from abroad and all of our guests, Ben in particular thanked Heidmar’s local Pool partners from the distinguished Hong Kong shipping community:
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- Unique Shipping (Mr. Stephen Yeung, Mr. Kenny Chu, Mr. Anil Arora and Mr. Paul Cheng)
- Wah Kwong Maritime Transport (Mr. Tim Huxley, Mr. William Fairclough, Capt. Zhou Jian Feng, Capt. Chen Chang Zheng, Mr. Andrew Oates and Mr. Ray Y. T. Lei)
- Nan Fung Tankers (Mr. Alan C. Y. Chan and Mr. Ricky K. H. Tse)
- AMCL/China Merchants (Mr. Herbert Xu, Capt. Xie Chunlin, Mr. Liu Lou, Ms. Stephanie Y. P. Ngai and Capt. Wong Chi Cheong)
Heidmar was also honored to have in attendance Mr. Anthony J. Hardy, the creator of the Hong Kong Maritime Museum.
Executive Committee Meetings
Each of Heidmar’s five tanker pools has an Executive Committee formed by representatives of all the current pool members. The committees meet twice a year, in the spring and fall, and they are charged with oversight and management of pool governance. Matters discussed and voted upon at the meetings and throughout the year cover crucial items such as admission of new pool members, changes to pool structures and formulas, and performance measurements.
The committee members see in-depth commercial presentations from the chartering managers representing their pools; in this case, Jim Hurley (Seawolf) and Joe Garin (Blue Fin). Subjects covered include trading strategy, earnings performance and market conditions.
The commercial presentations also include a thorough analysis of the forward market and earnings forecasts. A detailed financial presentation is given to the members by Heidmar’s CFO, Kathy Haines, covering most recent financials as well as year-end audited figures.
Blue Fin and Seawolf pool members were pleased to note that each of their pools had out-performed its publicly-listed and privately-held competitors throughout 2013 and, in particular, during the firm markets from the end of that year and into the first quarter of 2014.
As with everything Heidmar does, the Executive Committee meetings are all about transparency; keeping pool members closely informed about their pool’s performance and encouraging their close participation.
As such, the meetings are an open forum for pool members to raise any subject of interest to them for discussion and, if touching upon a pool governance issue, for voting upon by the committee. The pool members have said that, although they are constantly in dialog with Heidmar throughout the year consulting upon operational matters and hearing about market drivers, direction and performance, the Executive
Committee meetings are the best forum to meet as a group to debate, discuss and bond. They have also acknowledged that the presentations supplement and expand upon the real time earnings performance of their pools that they see 24/7/365 via efleetwatch.com.
The Executive Committee meetings are in addition to each pool’s Technical Committee meetings which take place each spring around the Heidmar Marine Forum.
The Technical Committees discuss all operation matters including working together to improve speed and consumption and vetting approvals as well as bunker quality systems and purchasing, emissions standards, port cost controls and piracy area management. As with the Executives, the Technical Committees receive presentations on all these subjects and more from Heidmar’s Operations Group.[/vc_column_text]