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Pioneer Marine to sell fleet and close up shop

Dry bulk shipowner Pioneer Marine has put its fleet up for sale and then plans to close shop.

Marcus Hand, Editor

June 28, 2021

1 Min Read
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Photo: The Blowup - Unsplash

The Oslo OTC-listed company said that at special meeting of shareholders last week it was agreed that all vessels of the company be put for sale at an agreed minimum price to be decided by the board of directors.

Following the sale of the fleet it said that the company would be dissolved.

A handysize bulker specialist Pioneer Marine was founded in 2014 raising $75m on the Norwegian OTC market. The decision to sell up comes at a time of resurgence of the dry bulk shipping market.

Pioneer Marine reported a first quarter net profit of $200,000 with a fleet of nine-owned handysize dry bulk vessels built between 2007 and 2013.

About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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