Only a year ago, Cetus Maritime was formed from the merger of Asia Maritime with Hamburg Bulk Carriers. Now comes the next move.
The bulker operator formed a year ago is merging with its Chilean competitor Nachipa Corp. This will result in a fleet of 65 bulk carriers in the handysize segment, including 40 owned and 25 chartered units. [ds_preview]
This corresponds to the fleet size at the time of the merger in December 2022. However, Cetus has pursued a renewal strategy over the past 18 months, during which smaller, older vessels have been sold.
Cetus Maritime wants to further consolidate and grow
As with the merger with HBC, this is a further step towards consolidation in this market segment. For both parties, this is “an ideal addition”, says Mark Young, CEO of Cetus Maritime. For Nachipa, fleet size is the most important factor, for Cetus it is the expansion of the operating business. In the South American market, in particular, growing volumes of grain and smaller bulk goods are expected.
Even before the Nachipa takeover, the fleet consisted mainly of handysize bulkers with a carrying capacity of 32,000 dwt to 43,500 dwt as well as Ultramax class vessels, in addition to a few smaller freighters. In future, the company will have 75% eco-ships in its fleet. An expansion of the fleet with eco bulkers had already been set as a goal at the time.
Nachipa Managing Director Felipe Simian will reportedly become part of the management team, which includes CEO Young as well as the two HBC founders, Jens von Husen and Georg Greilinger, and will be responsible for the company’s commercial activities in a dual role as COO.
Cetus Maritime employs around 120 people on land in nine offices worldwide, including Hong Kong, Singapore, Shanghai, Hamburg and now also Santiago de Chile.
