Marubeni Corporation, a prominent Japanese trading and investment conglomerate, announced today its agreement to make a strategic equity investment in Gearbulk Holding AG, the world's largest open-hatch shipping operator, headquartered in Switzerland. This move is set to significantly bolster Marubeni’s shipping business and deepen its long-standing relationship with Gearbulk, which recently became a consolidated subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL).

The investment, contingent upon the fulfillment of certain preconditions, will see Gearbulk become an equity-method affiliate of Marubeni. This strategic alliance is poised to create new synergies, leveraging Marubeni’s robust vessel ownership capabilities and extensive global network with Gearbulk’s specialized expertise in open-hatch vessel operations.

Gearbulk, established in 1968, has carved a niche in the global shipping industry through its focus on open-hatch vessels. These specialized ships, characterized by their box-shaped cargo holds and wide hatches, are adept at efficiently transporting semi-finished products such as pulp, steel, and aluminium ingots. Their unique design also facilitates the loading of oversized and heavy project cargoes, including wind power equipment, on deck or hatch covers, providing high-value-added transportation services. This versatility has earned Gearbulk a formidable reputation among shippers worldwide for its ability to handle both small and large cargoes simultaneously.

Marubeni's connection with Gearbulk is not new. Through its Singapore-based subsidiary MMSL Pte Ltd, Marubeni has been actively involved in the vessel ownership business for many years, fostering a strong partnership with Gearbulk through over two decades of chartering and leasing transactions. This established relationship forms a solid foundation for the new equity investment, allowing Marubeni to seamlessly integrate its resources to contribute to the sustainable enhancement of Gearbulk’s corporate value.

The signing event was attended by Koichi Hirata, Managing Executive Officer, MOL; Toshinobu Shinoda, Executive Vice President Executive Officer, MOL; Kristian Jebsen, Chairman, Gearbulk; Jiro Itai, Senior Managing Executive Officer, Marubeni; and Toru Okazaki, Executive Officer, Marubeni. Their presence underscores the mutual commitment to this strategic partnership.

Through this pivotal investment, Marubeni aims to significantly strengthen and expand its vessel ownership and operation functions. The collaboration with Gearbulk and MOL is expected to pave the way for pioneering new business domains within open-hatch vessel operations. This collective effort is geared towards maximizing revenue opportunities and driving substantial growth within Marubeni's dynamic shipping business, reinforcing its position in the global maritime sector. The move reflects Marubeni’s strategic vision to diversify its portfolio and enhance its presence in specialized shipping segments, anticipating robust demand for the unique transport capabilities offered by open-hatch vessels.