Japanese conglomerate Marubeni will buy a 28% stake in Switzerland-based shipping company Gearbulk from Kristian Jebsen and his family.
According to Gearbulk, the transaction, which is expected to be concluded soon, will strengthen the company’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.
The company’s operations will remain the same and relations with customers and other stakeholders will continue as before, Gearbulk noted, adding that Kristian Jebsen will continue as its Chairman and CEO and as Chairman of G2 Ocean.
“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,” Jebsen said.
Arthur English, G2 Ocean’s CEO, commented: “We are looking forward to welcoming Marubeni as an important partner, as we continue to renew our fleet and expand our services. G2 Ocean and our owners are committed to provide safe, reliable and sustainable solutions to all of our clients.”
To remind, in June 2024, Japanese company Mitsui O.S.K. Lines (MOL) became the majority shareholder in Gearbulk, owning a 72% stake in the company.
In other news, in August 2024, Gearbulk ordered two ammonia/methanol conversion ready 82,300 dwt open hatch newbuildings in China. The units will be sister vessels to four Pulpmax open hatch vessels ordered earlier in the year and will be built at the same shipyard, CSSC Huangpu Wenchong Longxue in Guangzhou, China. The vessels are expected to be delivered to their owner in October 2028 and January 2029 and will operate in G2 Ocean’s pool.