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MOL completes acquisition of majority stake in GearbulkMOL completes acquisition of majority stake in Gearbulk

The Japanese shipowner has obtained the required regulatory approvals to acquire a 72% stake in Gearbulk adding 60 vessels.

Michele Labrut, Americas Correspondent

January 24, 2025

1 Min Read
Bulker Cornella Arrow
Credit: MOL

Mitsui OSK Lines (MOL) has completed the acquisition of 72% of the shares of its Swiss-based affiliate Gearbulk Holding and it will become a subsidiary of the MOL Group.

The Japanese shipping company has had a 34-year collaboration with Gearbulk, beginning with its equity investment in 1991. Through the acquisition of Gearbulk MOL will add 60 open hatch bulkers to its fleet.

With the consolidation, the MOL Group’s dry bulk carrier fleet will reach 338 vessels, which would rank it second globally behind Oldendorff carriers which operates a fleet of around 700 vessels.

MOL said it will use Gearbulk’s operations and global network to create a global sales network that adapts to the shifting supply chains and trade patterns of the global economy.

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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