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Mitsui OSK Traces (MOL), Japan’s largest shipowner, is taking on Gearbulk from Kristian Jebsen in a deal that’s anticipated to shut by January subsequent yr.
MOL first invested in Gearbulk, the world’s largest open-hatch operator, in 1991, taking a 40% stake within the firm that was based in 1968, a shareholding it subsequently raised to 49% with Jebsen retaining a 51% majority. At the moment, MOL introduced its takeover plans, with it set to carry a 72% stake in Gearbulk by early subsequent yr.
Gearbulk has a fleet of 60 vessels plus quite a lot of ships on order in China. No value has been revealed for the takeover.
MOL is well-versed in shopping for into Norwegian maritime belongings. Odfjell Oceanwind, Larvik Delivery, and AKOFS Offshore are a few of MOL’s Norwegian investments lately.
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