The world’s third largest operator of supramax vessels Western Bulk has a commercially controlled fleet of 135 ships, with an aim to grow this to 180 vessels by 2015.
“I believe that this is the right timing for Western Bulk to take one step forward and consider an IPO. The market prospects now look promising, and we know our business model has good scalability,” said Jens Ismar, ceo of Western Bulk.
The company’s shipowning division has a fleet of 20 vessels including newbuildings.
At present Western Bulk is 96.5% owned by its chairman Christen Sveaas’ through Kistefos Group.
“I have been an owner in Western Bulk for the last fifteen years, and my objective is to remain a shareholder in the company for still many years,” Sveaas said.
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