Grieg Star and Maas Capital join forces to hunt for ultras and supras

Grieg Star and Maas Capital join forces to hunt for ultras and supras

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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