Marubeni Corporation Acquires 28% in Gearbulk

Oct. 8, 2024 - Gearbulk today announced that Kristian Jebsen and his family will sell their remaining 28% stake in Gearbulk Holding AG to Marubeni Corporation of Japan.

Mr. Jebsen is Chair of the G2 Ocean Board of Directors and Chairman and CEO of Gearbulk.

The transaction is expected to be concluded soon.

Marubeni is a major integrated Japanese trading and investment conglomerate, which will bring additional financial strength and extensive business experience — important for Gearbulk’s continued growth.

The transaction will further strengthen Gearbulk’s investment capacity and reinforce its commitment to G2 Ocean, a joint venture between Gearbulk and the Grieg Maritime Group, that operates more than 120 ships.

“I am pleased that Marubeni has decided to invest in and support the development of Gearbulk. This, together with MOL’s 72% holding, gives a strong continuity of the company for all stakeholders. Marubeni has had a close business relationship with Gearbulk for more than thirty years and the investment is a natural next step,” says Jebsen.

The company’s operations will remain the same and relations with customers and other stakeholders will continue as before.

Mr. Jebsen will continue as Gearbulk’s Chairman and CEO and as Chairman of G2 Ocean.

Gearbulk is an integrated international shipping company providing high quality shipping and terminal services for various industrial sectors. Gearbulk is one of the owners of G2 Ocean, holding 65% of the company’s shares, while Grieg Maritime Group holds the remaining 35%. The majority of the Gearbulk fleet operates under G2 Ocean.

SOURCE: Gearbulk

NORDEN Closes Its Acquisition of Norlat Shipping

Oct. 4, 2024 - NORDEN on Sept. 3 closed the acquisition of Nordic dry bulk operator Norlat Shipping.

Financial terms of the deal were not disclosed.

NORDEN first announced the agreement to acquire Norlat in July 2024.

“We are delighted to have received the green light for the acquisition last week and with the closing of the acquisition [on Sept. 3] we look forward to welcoming the Norlat Shipping team and customers,” says NORDEN CEO Jan Rindbo. “Norlat is a skilled niche operator and a great addition to our growing projects and parcelling activities, allowing us to offer our customers fully flexible solutions, as a global provider of ocean-based freight services for bulk and project cargo of all sizes.”

Norlat Shipping specialises in the shipment of forest products and other bulk commodities, with main trading routes from Northern Europe to North Africa and North America. Norlat’s offices in Norway and Stockholm, Sweden join the growing NORDEN global office network servicing customers across the world.

Paal Henrik Boehaugen, Managing Director, Norlat, stated, “The Norlat team is very excited to join NORDEN. NORDEN’s success and growth has been an inspiration to Norlat, and we are confident that there are a lot of synergies that can be exploited. Our operations have many similarities, but almost no overlaps. Joining NORDEN will help us bring out the untapped potential that our team possesses. We are looking forward to starting this new adventure.”

Privately owned Norlat was founded in 1986 and has since developed a core business focusing on the shipment of sawn timber from Baltic and Continental ports to North Africa and North America.

Norlat has offices in Sarpsborg and Bergen in Norway and in the Swedish capital of Stockholm, from where the company’s eight employees operate the asset light business, based on chartered vessels with four to five monthly shipments on predominately Handysize ships.

Founded in 1871, NORDEN is one of Denmark’s oldest internationally operating shipping companies. The company is a global provider of ocean-based freight services for bulk and project cargo of all sizes.

SOURCE: NORDEN

Spliethoff Expands Fleet with Order of Eight New L-type Vessels

Sept. 27, 2024 - Spliethoff is pleased to announce that it has placed an order with Wuhu Shipyard Co. Ltd. in China for the construction of a new series of eight multi-purpose vessels with an option for two additional vessels.

The L-type vessels are specially designed for the transportation of various dry cargo types, including paper products, bulk cargo, project cargo and containers. These Finnish/Swedish 1A Ice-Classed vessels will measure 203.25 m in length, 28.25 m in width, and will have a maximum draft of 10.5 m. They will have a total capacity of about 33,700 m3 and a deadweight (DWAT) of 28,600 mt, making them the largest vessels in the Spliethoff fleet.

“We are convinced that we will have secured the excellent service to our clients for the future and look forward to welcoming these energy-efficient vessels into our fleet,” said Michael van den Heuvel, CCO of Spliethoff Group. “We are proud of this step forward and believe that the L-type will play an important role in the sustainable future of our company.”

The energy-efficient vessels are designed with slender hull lines and will be prepared for the use of future fuels. The vessels, with the bridge located at the front, will be equipped with five lifts (side loaders) and three cranes with a capacity of 150 mt each, combinable to 300 mt SWL. The deck of these vessels is large and free from obstructions, making it suitable for cargo with large dimensions.

This new series will be delivered starting the first quarter of 2028, Spliethoff said.

Established in 1921, Spliethoff operates a fleet of over 50 modern, Dutch flagged, ­1A ice-­classed, ­multipurpose vessels, ranging from 12,000 to 23,000 DWT. All vessels are equipped with removable tweendecks and cargo cranes with capacities up to 1,400 tonnes in tandem lift.

SOURCE: Spliethoff

IFPTA and TTOBMA Enter Collaboration to Organize 2026 Global Forest Products Transport Symposium

September 25, 2024 - The International Forest Products Transportation Association (IFPTA) and TTOBMA, a leading forest products market intelligence firm, are proud to announce their collaboration on the first Global Forest Products Transport Symposium.

This biennial conference will alternate between major North, Central, or South American and European port cities, with the inaugural Fall 2026 Global Forest Products Transport Symposium to be held in the Americas. The selected city will be announced in early 2025.

The IFPTA hosted the first PPI Transport Symposium 50 years ago, in 1974, which took place in Rotterdam. The IFPTA is proud to continue the rich history and unparalleled networking opportunities that the industry has come to rely on. The Global Forest Products Transport Symposium is the only conference dedicated to logistics, supply chain, and sales & marketing professionals in the forest products sector.

“We are excited to bring together industry experts, thought leaders, and other stakeholders to explore the latest trends and technologies in distribution, in what has become a critical component to the success of all companies operating in the forest products industry” states Fraser Hart, Managing Partner of TTOBMA.

Bob Davidson, President of IFPTA reiterated, “The Global Forest Products Transport Symposium is the only conference in the world dedicated to logistics for the forest products industry and is a must-attend event for stakeholders in this community.”

For more information, please contact Michael O’Brien at IFPTA ([email protected]) or TTOBMA ([email protected]).

About IFTPA

The International Forest Products Transport Association (IFPTA) is an international association of forest products logistics professionals.

International transport of forest products demands integrated efforts of many disciplines. Foresters, mill managers, chemical and clay producers, traffic and logistics managers, must all talk to and work with rail and trucking representatives, marine transporters, stevedores, port and terminal operators, and manufacturers of handling equipment. The IFPTA seeks to establish a permanent framework to ensure continued vitality, and within which professional experience and information can be shared in a timely manner.

About TTOBMA

TTOBMA provides reliable and up-to-date pulp and paper market intelligence through its TTO and BMA divisions. TTO publishes monthly pulp, recovered paper, and tissue net-price indices for benchmark grades in major markets like China, Europe and North America based on open-market transactions. BMA helps subscribers understand and track current pulp and paper market conditions and to forecast short to long-term trends in demand, supply, and net prices.

SOURCE: IFPTA and TTOBMA