Dry CargoEurope

Livanos buys into ArcelorMittal’s dry bulk fleet

Peter Livanos’s DryLog is taking a 50% stake in ArcelorMittal’s shipping subsidiary, Global Chartering Ltd (GCL).

The 28-strong fleet will retain the GCL branding. DryLog and ArcelorMittal have had a working relationship for many years including the joint ownership of a pair of capesizes.

“After a series of successful joint ventures over the last 25 years, it is our pleasure and honour to expand our business relationship with ArcelorMittal, ” said DryLog vice president Yiannis Haramis, adding: “The formation of the new joint venture will allow both organisations to explore effective synergies, optimise alternative transport, and address the challenges facing the shipping industry in terms of sustainability.”

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.
Back to top button