Mitsui O.S.K. Lines, Ltd. (MOL) has acquired 72 per cent of the shares of its equity method affiliate Gearbulk Holding AG, a Swiss shipping company.
The transaction took place on 20 January 2025. The Japanese shipping company has had a 34-year collaboration with Gearbulk, beginning with its equity investment in 1991.
With the consolidation, the MOL Group’s dry bulk carrier fleet will reach 338 vessels, making it the world’s largest.
Gearbulk’s open hatch fleet will account for around 60 of those vessels, or nearly 20 per cent, and is projected to expand as a standalone company.
MOL will use Gearbulk’s operations and global network to create a global sales network that adapts to the shifting supply chains and trade patterns of the global economy.
Furthermore, Gearbulk will increase its services by using synergies such as the establishment of new business prospects and improved ship allocation efficiencies.
Recently, MOL signed a Memorandum of Understanding (MoU) with Madoqua Renewables Holding Lda (Madoqua) and other global leaders to develop a green corridor connecting Portugal to Northern Europe.