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Lomar bulker investment hits $127m in a year

Lomar Shipping EBURY TRADER.jpg
Lomar Shipping’s new bulker Ebury Trader is set to enter service in May after energy saving upgrades are carried out in China.

The latest delivery will be the company’s ninth acquisition in the past 12 months and will enter a long-term charter with a global logistics provider, Lomar said.

The company’s dry bulk fleet has now reached 14 in total after Lomar divested most of its container fleet for around $2bn and began investing in dry bulk expansion. Its investments in dry bulk vessels have reached $127m in a year, accessing over 600,000 dwt to the fleet, the company said.

Lomar CEO Nicholas Georgiou said: “Lomar has largely divested from container shipping during a period of record-breaking markets and is currently re-investing in the drybulk sector where we see considerable opportunities.”

Lima Trader and Oslo Trader joined the Lomar fleet in April and May 2023, and were followed in the second half of the year by Manila Trader, Rome Trader, Athens Trader, Thames Trader, Dart Trader, and Avon Trader.

Ebuery Trader is a 57,016 dwt vessel, formerly named Hai Yang Zhi Hua and built at China Shipping Jiangsu shipyard in 2011.

“In 2022 Lomar invested heavily into the tanker fleet sector with the acquisition of Carl Büttner, and has since integrated the business and its people into Lomar. In these past 12 months, Lomar has strengthened its fleet of bulk carriers, and continues to identify other areas in which to invest as we move forward,” said Gergiou.