Singapore: Westfal-Larsen Shipping, the wholly owned subsidiary of Singapore’s Masterbulk, has initiated its foray into conventional dry bulk shipping with the chartering in of the 58,000 dwt Aetolia.
“As one of the Masterbulk Group’s new strategic directions in diversifying its activities, the group intends to take in additional conventional tonnage in the months to come, as this business activity develops,” Masterbulk’s ceo Nicholas Fisher told SeaShip News. Fisher took over Masterbulk last September vowing to diversify the company’s revenue stream.
Conventional dry bulk is being jointly managed by Westfal-Larsen Shipping’s offices in Singapore and Bergen.
“Conventional dry bulk is the second new strategic direction in as many months,” Fisher said, explaining that in December Masterbulk Ship Management was established in Singapore, for in house and 3rd party ship management. [30/01/14]