Western Bulk is launching a new office in Dubai, which will open during the first three months of next year.
The Oslo-listed bulker operator said it is opening the new base "to extend our geographical presence and come closer to our customers in the Middle East and the Indian Ocean".
Western Bulk's Indian Ocean division is currently run from its Singapore office.
The division handles spot chartering, long-term industrial contracts and also has "extensive" parcelling operations within Asia and South Africa for various bulk and breakbulk commodities, according to Western Bulk's website.
The Indian Ocean team operated an average volume of about 25 vessels in the handysize to ultramax segments during 2020, according to the site.
Western Bulk did not supply further information as to whether the new Dubai office will seek to make new hires, or what specific business it aims to target. TradeWinds has contacted the company for further comment.
The Norwegian operator, which listed its shares on the Oslo Stock Exchange in September, expects to book net profit of between $50m and $60m after tax for 2021 on the back of strong markets.
Growing hub
Dubai is becoming an increasingly important hub for the dry cargo sector, with shipowners, operators and trading houses increasing their presence in the United Arab Emirates city.
Owner-operator Norden moved its India office to Dubai last year, and Lauritzen Bulkers opened an office in the city in 2019.
Oldendorff Carriers, the world's biggest operator of bulk carriers, was quicker off the mark and set up shop in Dubai in 2015.
