Lomar Shipping Bolsters Bulker Fleet With $127 Million Investment

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  • Lomar Shipping is set to expand its dry bulk fleet with the addition of Ebury Trader, marking the company’s ninth acquisition in the past year.
  • With investments totaling $127 million, Lomar is strategically focusing on the dry bulk sector after divesting its container fleet.

Lomar Shipping, a prominent player in the maritime industry, is gearing up to welcome its latest acquisition, the bulker Ebury Trader. This addition underscores the company’s ongoing commitment to expanding its dry bulk fleet and seizing opportunities in the sector.

Fleet Expansion and Investment Strategy

Over the past 12 months, Lomar Shipping has significantly bolstered its dry bulk fleet, adding a total of nine vessels to its roster. This aggressive expansion comes on the heels of Lomar’s strategic decision to divest most of its container fleet, redirecting its focus and resources towards the burgeoning dry bulk market.

Financial Investment

Lomar’s investment in the dry bulk sector has been substantial, with a total expenditure of $127 million in the past year alone. This significant financial commitment has enabled the company to access over 600,000 deadweight tonnage (dwt), solidifying its position in the dry bulk segment.

CEO’s Perspective

Nicholas Georgiou, CEO of Lomar Shipping, expressed confidence in the company’s investment strategy, emphasizing the abundant opportunities present in the dry bulk sector. Georgiou highlighted the strategic shift away from container shipping during a period of robust markets, emphasizing the company’s reinvigorated focus on the promising prospects in dry bulk transportation.

Recent Fleet Additions

The recent fleet expansion includes notable vessels such as Lima Trader and Oslo Trader, which joined the Lomar fleet in April and May 2023. These additions were followed by a succession of vessels, including Manila Trader, Rome Trader, Athens Trader, Thames Trader, Dart Trader, and Avon Trader, further enhancing Lomar’s presence in the dry bulk market.

With the impending entry of Ebury Trader into service and the continued expansion of its dry bulk fleet, Lomar Shipping is poised for sustained growth and success in the maritime industry. The company’s strategic investments and commitment to excellence underscore its position as a leading player in the global shipping landscape.

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Source: Seatrade-maritime