The transaction is expected to be finalized shortly. Gearbulk stated that this move will enhance its investment capabilities and solidify its commitment to G2 Ocean, a joint venture with the Grieg Maritime Group that operates over 120 vessels.
The company reassured stakeholders that its operations will remain unchanged and relationships with customers will continue as usual. Mr. Jebsen will retain his roles as Chairman and CEO of Gearbulk, as well as Chairman of G2 Ocean.
In parallel, the remaining 72% of Gearbulk will be acquired by its affiliate, Mitsui OSK Lines (MOL), with the deal expected to close by January 2025 as part of a strategic business reorganization. Gearbulk specializes in the open-hatch vessel segment, managing a fleet of 60 ships that transport a variety of semi-finished products, small-lot, and project cargo
