Grieg Star and Maas Capital Form Dry Bulk Joint Venture

bulkerIllustration. Image Courtesy: PxHere under CC0 Creative Commons license

Shipping company Grieg Star and investment management firm Maas Capital have established a joint venture for ownership of Supramax and Ultramax vessels.

Formed in December 2018, the joint venture is named GriegMaas AS. Each of the two companies has 50 percent ownership of GriegMaas.

As informed, the JV aims to acquire high quality Supramax and Ultramax bulkers.

G2 Ocean will be responsible for the commercial management of the vessels, while Grieg Star will provide corporate and ship management services to GriegMaas.

As a first step, the two Grieg Star Supramax vessels, Star Athena and Star Eracle, were sold to GriegMaas in early January 2019. Further expansion of the fleet is planned for 2019.

“GriegMaas will further strengthen our position within the Supramax and Ultramax segments, and thus further strengthen G2 Ocean’s Bulk activities,” Camilla Grieg, Grieg Star CEO, said.

“This investment exemplifies our investment approach, in which we aim to invest in top-tier assets together with leading and longstanding industry players. Maas Capital is excited about this new partnership with Grieg Star,” Mark Ras, Head of Maas Capital, commented.

Based in Norway, Grieg Star is a ship owning and operating company within the open hatch and dry bulk segments.

Part of ABN AMRO, Dutch Maas Capital is a dedicated investor focusing on the shipping, intermodal and oil & gas sectors.

Share this article

Follow World Maritime News

Posted on January 11, 2019 with tags .

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >