MOL Completes Acquisition of Gearbulk, Expanding Fleet to 338 Vessels

Mitsui O.S.K. Lines (MOL) has finalized the acquisition of 72% shares in Gearbulk, a significant move that has increased its fleet of dry bulk carriers to a total of 338 vessels. This completion of the acquisition process now designates Gearbulk as MOL’s consolidated subsidiary.

With a strong reputation for transporting semi-finished products like pulp, Gearbulk has demonstrated consistent growth over the years. MOL’s partnership with Gearbulk dates back 34 years to its initial equity participation in 1991.

The consolidation of Gearbulk under the MOL Group propels its fleet of dry bulk carriers to the forefront, establishing it as the leader in the industry. Among the 338 vessels, Gearbulk’s open hatch fleet, recognized as the largest globally, will contribute approximately 60 vessels, representing around 20% of the total fleet. This unique business segment is poised for further expansion, offering the MOL Group a distinct competitive edge.

Through the integration of Gearbulk’s specialized operations and extensive global network, MOL aims to enhance its global sales network to adapt to evolving supply chains and trade patterns in the global economy. The synergy between the two entities will pave the way for new business opportunities and improved ship allocation efficiency, bolstering Gearbulk’s services.