MOL Acquires 72% of Gearbulk, Strengthening Leadership in Dry Bulk Carriers

Mitsui O.S.K. Lines (MOL) has successfully acquired 72% of Gearbulk’s shares, significantly expanding its fleet of dry bulk carriers to a total of 338 vessels. This acquisition marks Gearbulk as MOL’s consolidated subsidiary, solidifying their longstanding partnership that began 34 years ago with MOL’s equity participation in 1991. Gearbulk has a strong track record of growth, particularly in transporting semi-finished products like pulp.

The consolidation of Gearbulk into the MOL Group’s fleet of dry bulk carriers positions MOL as a world leader in the dry bulk fleet industry. Gearbulk’s open hatch fleet, which is the largest in the world, will make up approximately 60 vessels or 20% of the total fleet. This unique aspect of Gearbulk’s business is expected to provide the MOL Group with a competitive edge and contribute to its continued growth.

MOL plans to leverage Gearbulk’s specialized operations and global network to develop a robust global sales network that can adapt to changing supply chains and trade patterns in the global economy. By creating synergies between the two companies, such as exploring new business opportunities and enhancing ship allocation efficiency, Gearbulk will further enhance its services and contribute to the overall success of the MOL Group.

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