Grieg Star and Maas Capital have established a joint venture to buy supramax and ultramax vessels. The new 50:50 company is named GriegMaas.
G2 Ocean will be responsible for the commercial management of the vessels, while Grieg Star will provide corporate and shipmanagement services to GriegMaas.
As a first step, the two Grieg Star supramax vessels, Star Athena and Star Eracle, were sold to GriegMaas earlier this month. Further expansion of the fleet is planned for 2019.
“This investment exemplifies our investment approach, in which we aim to invest in top-tier assets together with leading and longstanding industry players,” commented the head of Maas Capital, Mark Ras.