Mitsui O.S.K. Lines is set to increase its ownership stake in Norway’s Gearbulk Holdings as part of its strategy to consolidate and expand its presence in the dry bulk shipping industry. With a fleet of over 870 vessels, MOL is one of the world’s largest shipping companies, and this move is aimed at accelerating revenue growth.
The Jebsen family, through their holding company Halberton, will be selling an additional 23 percent stake in Gearbulk to MOL, with the transaction expected to be finalized by January 2025. This will increase MOL’s ownership to 72 percent, making Gearbulk a subsidiary of the Japanese company, while Jebsen will retain a 28 percent shareholding in the company. MOL has been an investor in Gearbulk since 1991.
Gearbulk, a pioneer in open hatch gantry crane vessels since 1968, boasts the world’s largest fleet in this segment. The company specializes in transporting unitized cargoes such as forest products, non-ferrous metals, and steel products. MOL sees this consolidation as a strategic move to enhance its business base, create new opportunities, and improve efficiency in vessel allocation, ultimately strengthening its competitive edge in the market.
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