Alexander Varvarenko’s dry bulk and container shipping company Varamar has struck a cooperation agreement with Chinese state giant Cosco.
The Belgium-based outfit will work with Cosco’s ASL Shipping & Logistics in a strategic commercial partnership aimed at helping both companies strengthen their respective trades.
Varamar is a liner and tramp carrier that specialises in breakbulk, dry bulk, oversized and containerised cargo.
It has historically focused on trade lanes connecting Europe with the Middle East and Asia, while also trading to Africa and the Americas.
The recent expansion of Varamar to 10 international branches has given it a chance to set new ambitions, the company said.
The owner operates mainly in the 3,000-dwt to 30,000-dwt range.
Cosco owns and operates larger ships of between 28,000 dwt and 60,000 dwt, including bulk, multi-purpose and semi-submersible vessels, focused on Asia, the Middle East, Africa and the Americas.
“As well as acting to help each other gain market share, the two entities will promote their partner’s schedules, cooperate with joint marketing initiatives, establish a process for sharing information on open tonnage and support each other on adjacent trades,” Varamar said.
The two fleets will be represented on chartering platform ShipNext, also owned by Varvarenko.
This will help both chartering teams establish cooperation, the company added.
New teams being created
Kaptan Singh will lead and create teams for the partnership as head representative.
Niraj Mehta, managing director of Varamar DMCC, and Andy Zhuang, managing director of Varamar Shanghai, will also be involved.
“Both entities have different areas of operation and trade targets, so we believe this agreement plays to the strengths of each partner. We look forward to working together to strengthen the commercial and chartering activities of both Cosco and Varamar,” said Zhuang.
Last month, Varamar established a new base in Turkey to respond to growing demand.
It said requirements from clients are expanding in the Caspian Sea region and the Middle East.
Varamar Istanbul is run by new managing director Emre Oncu.
