Japanese trading house Marubeni Corp is taking its cooperation with Norway’s Torvald Klaveness group to the next level and has bought a 25% stake in dry cargo operator Klaveness Dry Bulk.
The two firms have been joint partners in Baumarine by MaruKlav, the world’s largest panamax pool, for the past three years.
The deal includes operating arm Klaveness Chartering, the Baumarine pool and tech platform Market Manager, a data offering that aims to help chartering staff make better-informed decisions.
Toru Okazaki, COO of Marubeni’s aerospace & ship division, said the deal came after the Torvald Klaveness Group and Klaveness Dry Bulk delivered “significant results” for the trading house’s fleet and for panamax owners in the Baumarine pool.
“They have consistently demonstrated an innovative approach to securing the best earnings management through, for example, the fixed-rate conversion at peak scheme,” he said.
“We see them driving a high level of client focus throughout the activities, something that will only become increasingly important in this dynamic dry bulk shipping industry.”
The partners did not disclose the commercial terms of the deal, which is subject to regulatory clearance and is expected to close next quarter.
“Since day one, we have enjoyed a close and mutually beneficial collaboration with Marubeni,” said Michael Jorgensen, executive vice president and head of Klaveness Dry Bulk.
“I am proud that we can now take the next step and continue our journey together, helping our clients fulfil their purpose and overcome challenges while driving our innovative and transformative organisations forward.”
Klaveness group CEO Ernst Meyer said of Klaveness Dry Bulk: “With Marubeni as a partner, we will boost our positive impact on maritime supply chains and create more value for both companies.”
