Lasco Logger Pool gets Bigger

Wednesday, April 17, 2002
The Lasco Logger Pool, already one of the world’s largest logger fleets, just got bigger, with the announcement that two of SINCERE STEAMSHIP CORP.’s newly built logger ships, the Alpha Venture and the East Tender, have been placed in the Lasco Logger Pool. SINCERE, a management company in Taipei, TAIWAN, operates thirteen ships in its fleet, including seven newbuildings, committed two new “Kanda 28’s” to the Pool, which is commercially managed by Lasco. SINCERE will perform its own technical management of its vessels. In commenting on the announcement, Mr. Kenneth M. Novack, President/CEO of Lasco, stated that Sincere’s participation in the Pool “…reflects Lasco’s ongoing efforts to establish strategic partnerships with other maritime ventures who share a common vision and philosophy, committed to providing reliable service and quality vessels, in order to better utilize tonnage.” Novack went on to call attention to Lasco’s constant efforts to improve its capabilities to make forward fixtures and reduce ballast legs, aggressively positioning cargo opportunities. “Taking best advantage of backhaul cargoes, triangulating ports of call within the Pacific markets and reducing unnecessary ballast days are key components”, Novack stated, “of the Pool’s benefit to both shippers and Pool members.” Industry observers note this addition strengthens the Lasco Logger Pool’s ability to obtain improved market intelligence, particularly in Chinese and area regional markets, to better understand market movements and directions in the Pacific trades, as well as providing the Pool with added competitive market power to forge closer ties to shippers from the expanded fleet. The Lasco Logger Pool, established in 1999, is managed by Mr. Daniel Hall out of Lasco’s corporate headquarters in Portland, Oregon, with 17 vessels in the pool, including twelve Lasco managed vessels. In addition to Hall, a full team of dedicated staff work on chartering, operations, accounts and related services on behalf of the Pool from the Portland office and through the Lasco office in Tokyo, Japan, led by Mr. Kaz Oshima. Lasco envisages over time SINCERE increasing its involvement in marketing the Pool’s tonnage and maximizing the strengths each shipping company brings to the Pool. Lasco, a family owned, privately held ship management company, headquartered in Portland, Oregon, was established in 1963. Affiliated with The Schnitzer Group of companies, Lasco operates a modern fleet of some 24 vessels comprising handy-size, handy-max, panamax and con-bulk carriers, deployed primarily in the transpacific trades. The Schnitzer Group of companies, with corporate headquarters in Portland, Oregon , are involved in scrap metal recycling and processing, steel manufacturing, real estate development and investment, marine terminal bulk operations, industrial gas production and distribution and ocean shipping.
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