The German trio of Nordic Hamburg, Bertling and Oskar Wehr have decided to create a new commercial management vehicle for their handy bulker fleets, Splash can exclusively reveal. The three companies are putting their combined 27 handies into a new single chartering entity.
“It makes a lot of sense to beef up in the handy sector like that because it’s the hardest market to handle chartering for, and to get broker attention for,” one source with knowledge of the new vehicle told Splash today on condition of anonymity.
While chartering joint ventures are more common in larger dry bulk vessel types they remain thin on the ground for the handy sector. In China, three owners – Dalian Adani, Maple Leaf and Chang Hang – circulated each other’s positions for a number of years.