Western Bulk Chartering has announced its re-entry into ship ownership through the acquisition of the vessel CSSC Shi Jia Zhuang, in collaboration with a group of Norwegian partners.
The consortium includes J. Ludwig Mowinckels Rederi, Premium Maritime Fund 2024 managed by NRP Asset Management, and Pactum.
The vessel, an “eco-design” Kamsarmax built in 2020 in China, recently completed its five-year special survey and will be renamed Western Egda.
Western Bulk will hold a 22 per cent ownership stake, with the transaction expected to close next week. The company will assume responsibility for commercial and business management.
CEO Torbjørn Gjervik stated, “We are very excited to re-enter ship ownership together with a strong group of partners. This is an area where we can add significant value through our global commercial platform.”
Western Bulk currently operates approximately 110 vessels in the Handysize to Kamsarmax segments. The company intends to expand its co-investment and commercial management activities, utilising data from its 500 to 600 annual fixtures to assess vessel performance.
