The Baumarine by MaruKlav bulk carrier pool says it has outstripped Baltic Exchange benchmark earnings in the first quarter.

Rates for the joint venture between Norway’s Torvald Klaveness and Marubeni Corp of Japan ended March $3,226 per day above the P5TC index, which is based on five panamax time-charter routes.

Pool head Carl-Martin Graf said: “While securing strong Q1 earnings, we have continued to build for successful results in Q2 and the rest of the year with a very good positioning of our fleet within the different basins.”