Lauritzen Bulkers is to open a new office in Dubai in August to target the Middle Eastern market.
“The Middle East region is an important and growing area for us and the decision to open an office in Dubai means we will be closer to existing and new customers, enabling us to further grow our activity there," said Niels Josefsen, Lauritzen Bulkers' chief executive.
The Dubai office is part of the company's goal to double its overall short-term trading activity, said Josefsen.
The dry bulk division of J Lauritzen already has offices in Copenhagen, Singapore and Stamford.
Simon Fast heads up the new office as its general manager as of 1 August.
He was previously chartering manager at bulker owner MUR Shipping, a subsidiary of Macsteel, and has also worked for Ultrabulk.
Fast will be joined by chartering manager Christian Elbaek, who will transfer to Dubai from Lauritzen Bulkers’ headquarters in Copenhagen.
Lauritzen Bulkers has posted a stable result for 2018, but in February warned it is unlikely to return to profitability in 2019.
On Monday, TradeWinds reported the company has sold two Japan-built handysize bulkers to Taylor Maritime.
J Lauritzen said in June it reduced its operated bulker fleet by 15 ships during the first quarter in response to weak markets.
