Baumarine by Klaveness: Evolving into an asset earnings manager
Image: Fransisco Gomez, Head of Baumarine
Market volatility is constant in dry bulk. The question is not whether markets move, but how those movements are translated into earnings. This thinking is increasingly shaping how Baumarine by Klaveness operates today, with the aim of helping shipowners optimize earnings through a combination of strong spot performance and unparalleled fixed-rate conversion tools. Together, this has helped owners achieve earnings above underlying market levels.
The approach is centered on asset earnings management that combines market access, fleet scale, data, benchmark discipline, fuel exposure control, as well as commercial judgment into a more structured operating model.
Vessels are not traded in isolation but managed as part of a broader earnings portfolio. The objective is to optimize earnings across the entire pool over time, rather than focusing on individual voyages or fixtures. Francisco “Fran” Gomez, who assumed the role of Head of Baumarine in early 2026, explains how this is shaping the way the pool is run today.
A global approach, anchored in Asia
“Pooling vessels is only part of the story. We are also pooling access, information, timing and risk discipline,” says Gomez.
A key part of this development is a more integrated way of operating across regions, anchored in Asia. With Klaveness maintaining a fixed Asian presence in Singapore, Dubai and Tokyo, and working closely with pool partner Marubeni Corporation, Baumarine benefits from one of the world's most important dry bulk markets and a strong source of market insight.
Execution remains a joint effort across chartering, research, operations, partner relations and financial trading by Klaveness teams globally. Insights, cargo flows and positioning decisions are shared across regions, allowing the pool to manage exposure rather than simply react to it.
“This is particularly relevant in a market where timing differences between basins can create meaningful earnings differences,” Gomez adds.
Outperforming the market in Q2 2026
A consistent objective for Baumarine is to stay on par with, or better than, the P5TC benchmark over time. This is achieved through disciplined positioning, high utilization of fixed-rate structures, and the ability to combine physical trading with financial tools when managing exposure.
In earnings, this delivered for Baumarine in June $20,612/day gross, exceeding the P5TC benchmark by $813/day. Across Q2 2026, the pool outperformed the benchmark by approximately $600/day overall. At present, the July forecast looks equally promising in expecting to remain in line with the P5TC benchmark.
“Q2 demonstrated that performance is not only about market direction. Positioning, timing and execution all matter. Our Chartering and Operations teams worked closely together to turn opportunities into earnings for our members,” says Gomez.
Looking ahead
As Baumarine moves into the second half of the year, the focus remains on execution. This includes improving positioning, maintaining balance across the portfolio and continuing to explain performance in a clear and measurable way.
“The market will always be volatile. Our role is to build a disciplined and transparent process that helps convert that volatility into opportunity for our members,” Gomez adds.