Maersk Broker has taken the latest step in its dry cargo growth story by taking full control of Wonsild Dry.
The merger will see Wonsild Dry integrated into Maersk Broker Bulk Chartering in January 2019, over three years after Maersk Broker first bought into the company.
“Wonsild Dry and Maersk Broker Bulk Chartering share the view that increasing expectations and demands from clients in a highly competitive dry bulk market will require best in class broking services both commercially and operationally,” a statement said.
“We are certain that a combined global organisation will create a stronger platform for further growth and, indeed, a company that will be able to service our many loyal clients even better in the future.”
Frank Kehlskov Mortensen, chief executive of Maersk Broker Bulk Chartering, says the deal does not mark the end of the company’s growth ambitions in dry cargo. “We will not stop here,” he said.
Wonsild Dry offices in Copenhagen and Singapore will combine with Maersk Brokers’ teams in the shipping cities.
Its offices in Hong Kong and Bangkok will add to the existing Maersk Broker Bulk Chartering locations in London, Hamburg, Dubai, Delhi, Beijing, Taipei, Seoul and Tokyo.
Maersk Broker Bulk Chartering houses the company’s bulk business, outside of the sale and purchase space.
Dry cargo has been a growth focus for Maersk Broker during the past few years.
It took a strategic stake in Wonsild Dry in late 2015 and within six months it had also invested in Lanic, which was subsequently taken over.
Outside of dry, notable growth efforts have included the 2017 takeover of offshore specialist Kennedy Marr Group.
