The shipping company Western Bulk – which has only recently returned to the traditional business of ship ownership – wants to benefit from the potential of the project shipping market and is setting up a new team for this purpose.
The Norwegian company has now announced that an “experienced team” based in Bergen will take care of the shipping of project cargo and timber products in future. It is due to start on May 1.
“This is an important step in the further expansion of the company’s commercial platform and its focus on developing strong niche competencies alongside its core business in bulk transportation,” reads a statement from the shipping company, which actually focuses on bulk shipments. It is listed on the Oslo stock exchange and has over 1,000 shareholders, according to its own information. The Norwegian investment company Kistefos AS is the most important shareholder with a stake of 70%.
Western Bulk operates a fleet of 120 vessels on its commercial platform with loading gear from the Ultramax and Handysize segments. In the recent past, the focus has been on an “asset-light” model, i.e. without classic ownership of the ships. Recently, however, a bulker was purchased with partners, making the company a ship owner again.
The acquisition of complementary skills and networks is now a key strategic priority for Western Bulk. The newly appointed team has extensive practical experience in the timber, project and general cargo sectors. It consists of Henrik Lahn-Johannessen and Thomas Johansen on the commercial side and Kjell Magne Veka on the operational side. Both are moving to Bergen from the Danish shipping company Norden.
“We are delighted to welcome Henrik, Thomas and Kjell Magne to Western Bulk and look forward to exploring the synergies between our bulk and project business. Their expertise and market knowledge fit very well with our strategy to build a diversified commercial platform where specialist teams can operate successfully while benefiting from Western Bulk’s scale, systems and global reach,” said CEO Torbjørn Gjervik.
