MOL To Take Over Gearbulk

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Mitsui O.S.K. Lines (MOL) has announced that it will be reorganising its equity-method affiliate company Gearbulk Holding AG into a consolidated subsidiary company by ‘around January 2025’.

MOL has been an investor in Gearbulk for more than 30 years and currently holds a 49% stake, with Kristian Jebsen (the company’s President) holding 51%. Under the reorganisation, MOL will look to raise its stake to 72%.

Gearbulk is the world’s leading player in the open-hatch vessel segment, controlling a fleet of 60 vessels.

According to MOL: ‘The consolidation of Gearbulk creates synergies such as enhancing the expansion of the group’s business base by adding Gearbulk’s worldwide network, creating new business opportunities, and boosting the efficiency of vessel allocation.’

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Source: MOL