Former SwissMarine CEO Peter Weernink has launched a new dry bulk venture called Singapore Marine.
Sponsored by Weernink as its largest investor, Singapore Marine has raised $105m in capital with investment coming from John Fredriksen’s Golden Ocean, Ionic Shipping, the Martinos family (Thenamaris), Angus Paul (Goodbulk), John Michael Radziwill (CMTC and Goodbulk), Will Snellings (Marianasfund) and the Veniamis family (Golden Union).
“The company is a drybulk operator which will initially focus on the cape, baby cape and post-panamax segment. It will seek to build a substantial operation with an emphasis on customer service,” Weernink said in a statement.
In a stock exchange announcement, Golden Ocean said that its CCO Thomas Semino will be appointed as a director of Singapore Marine. Golden Ocean has invested $10m in equity and $10m in available subordinated shareholder loan.
The new company has been incorporated in Singapore with offices in the Lion Republic, Geneva and the Swiss ski resort of Verbier.