Table:
|  | For the year ended |  |
| --- | --- | --- |
|  | 2018 | 2019 |
| Amounts in thousands of U.S. Dollars |  |  |
| Pool gross revenues (included in Revenues) | 102,253 | 45,253 |
| Pool gross voyage expenses and commissions (included in Voyage expenses and commissions) | (10,154) | (8,086) |
| GasLog’s adjustment for net pool allocation (included in Net pool allocation) | 17,818 | (4,264) |
| GasLog’s total net pool performance | 109,917 | 32,903 |
Paragraphs:
Net Pool Allocation: Net pool allocation decreased by $22.1 million, from a positive $17.8 million during the year ended December 31, 2018 to a negative $4.3 million during the year ended December 31, 2019. The decrease in net pool allocation was attributable to the movement in the adjustment of the net pool results generated by the GasLog vessels in accordance with the pool distribution formula for the total fleet of the pool, as well as GasLog’s vessels exiting the Cool Pool in June and July 2019. GasLog recognized gross revenues and gross voyage expenses and commissions of $45.3 million and $8.1 million, respectively, from the operation of its vessels in the Cool Pool during the year ended December 31, 2019 (December 31, 2018: $102.3 million and $10.2 million, respectively). GasLog’s total net pool performance is presented below:
Voyage Expenses and Commissions: Voyage expenses and commissions increased by 16.7%, or $3.4 million, from $20.4 million during the year ended December 31, 2018 to $23.8 million during the year ended December 31, 2019. The increase in voyage expenses and commissions is mainly attributable to an increase of $3.4 million in bunkers and voyage expenses consumed during certain unchartered and off-hire periods for the vessels trading in the spot market.
Question:
What accounted for the decrease in net pool allocation?
Answer: The decrease in net pool allocation was attributable to the movement in the adjustment of the net pool results generated by the GasLog vessels in accordance with the pool distribution formula for the total fleet of the pool, as well as GasLog’s vessels exiting the Cool Pool in June and July 2019