Union Maritime proving adept in dry bulk

Union Maritime proving adept in dry bulk

London-based Union Maritime might be best known as a tanker player but it is also becoming increasingly adept in the dry bulk trades.

Brokers tell Splash Cargill has just fixed Union Maritime’s twelve-year-old panamax Harrow for delivery east coast South America later this month with redelivery Skaw-Gibraltar at $8,000 daily plus $95,000 ballast bonus. This is one of the first ballast bonuses for an ECSA/continent fixture for a while, and one broker describes the deal as a “nice fixture”.

While Union Maritime’s fleet is still heavily weighted towards tankers it has been building up a dry bulk base which now includes two handies plus the Harrow, which it picked up from Japan late last year.

The CEO of the company is Laurent Cadji, a Moroccan ex-Morgan Stanley trader and Splash understands the company is owned by Nigerian-Indian interests.

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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