Table:
|  | For the year ended |  |
| --- | --- | --- |
|  | 2017 | 2018 |
| Amounts in thousands of U.S. Dollars |  |  |
| Pool gross revenues (included in Revenues) | 38,046 | 102,253 |
| Pool gross voyage expenses and commissions (included in Voyage expenses and commissions) | (9,122) | (10,154) |
| GasLog’s adjustment for net pool allocation (included in Net pool allocation) | 7,254 | 17,818 |
| GasLog’s total net pool performance | 36,178 | 109,917 |
Paragraphs:
Net Pool Allocation: Net pool allocation increased by $10.5 million, from $7.3 million during the year ended December 31, 2017 to $17.8 million during the year ended December 31, 2018. The increase in net pool allocation was attributable to the movement in the adjustment of the net pool results earned by the GasLog vessels in accordance with the pool distribution formula. GasLog recognized gross revenues and gross voyage expenses and commissions of $102.3 million and $10.2 million, respectively, from the operation of its vessels in the Cool Pool during the year ended December 31, 2018 (December 31, 2017: $38.0 million and $9.1 million, respectively). The increase in GasLog’s total net pool performance was driven by higher spot rates and higher utilization achieved by all vessels trading in the Cool Pool. GasLog’s total net pool performance is presented below:
Voyage Expenses and Commissions: Voyage expenses and commissions increased by 32.5%, or $5.0 million, from $15.4 million during the year ended December 31, 2017 to $20.4 million during the year ended December 31, 2018. The increase in voyage expenses and commissions is mainly attributable to an increase of $3.6 million in bunkers consumed and voyage expenses during certain unchartered and off-hire periods, an increase of $0.3 million in voyage expenses of the vessels operating in the spot market and an increase of $1.1 million in brokers’ commissions.
Question:
What accounted for the increase in net pool allocation?
Answer: Attributable to the movement in the adjustment of the net pool results earned by the GasLog vessels in accordance with the pool distribution formula.