Dee4 Capital Partners Fund II has purchased a second ultramax bulk carrier, extending its carefully timed entry into high-quality Japanese-built tonnage and increasing Dee4 Capital Partners Fund II’s exposure to the dry bulk market. Dee4 Capital Partners Fund II has acquired the 2017-built 60K DWT ultramax bulk carrier MV Dee4 Pine (ex MV Only You), constructed at Japanese shipyard Shin Kurushima Sanoyas Shipbuilding Co., Ltd., for around $29 million. The ultramax bulk carrier MV Dee4 Pine (ex MV Only You) was sold by financial player Alpha Omega, giving Dee4 Capital Partners Fund II another modern Japanese-built ship within its expanding portfolio. The deal follows Dee4 Capital Partners Fund’s first bulk carrier acquisition in August 2025, when Dee4 Capital Partners Fund bought the 63K DWT ultramax bulk carrier MV Dee4 Oak (ex MV Ultra Diversity), built at Tadotsu Imabari, for around $27 million from Danish shipowner and operator Ultrabulk. The purchase of MV Dee4 Pine (ex MV Only You) indicates that Dee4 Capital Partners Fund II is not approaching dry bulk shipping as a single opportunistic investment, but as a broader extension of its maritime investment strategy. Dee4 Capital Partners Fund II represents a wider shift in the platform’s investment mandate. Dee4 Capital Partners Fund’s first fund was primarily centred on the medium-range product tanker market and benefited from strong supply-demand conditions in tankers, while Dee4 Capital Partners Fund II has expanded its remit to include dry bulk shipping, giving investors access to another cyclical market with separate earnings drivers, fleet fundamentals and asset-value potential. Established in 2019 by Carsten Mortensen and Freddie Lee, Dee4 Capital Partners Fund has built a large part of its track record in the medium-range product tanker segment, where Dee4 Capital Partners Fund showed an ability to identify well-priced ships, capture improving market fundamentals and complete exits at favourable moments in the cycle. Carsten Mortensen brings more than 35 years of international shipping experience to Dee4 Capital Partners Fund, including earlier senior positions at BW Group and D/S Norden, while Freddie Lee contributes investment experience, including earlier involvement with Barclays Natural Resource Investments and Hafnia Tankers. This leadership combination gives Dee4 Capital Partners Fund a blend of shipowning knowledge, investment discipline, cycle awareness and capital-allocation capability. Dee4 Capital Partners Fund’s move into Japanese-built ultramax bulk carriers is significant because Japanese-built dry bulk ships are often valued for construction quality, durability, fuel performance, maintenance standards and strong charterer acceptance. Ultramax bulk carriers also occupy a practical and versatile size range, capable of carrying grains, coal, steel products, cement, fertilisers, petcoke, logs, minerals and other minor bulk cargoes across both regional and long-haul trades. By selecting MV Dee4 Pine (ex MV Only You) and MV Dee4 Oak (ex MV Ultra Diversity), Dee4 Capital Partners Fund II is concentrating on modern, liquid, marketable and commercially attractive dry bulk ships rather than older or less efficient tonnage. The dry bulk expansion gives Dee4 Capital Partners Fund II a broader earnings base than a portfolio limited only to product tankers. Product tankers are influenced by refinery dislocation, clean petroleum demand, tonne-mile shifts, sanctions disruption, refined product flows and fleet supply, while ultramax bulk carriers are driven by grain seasons, industrial demand, commodity trading patterns, regional cargo flows, port conditions and dry bulk fleet supply. By adding ultramax bulk carriers, Dee4 Capital Partners Fund II can spread its exposure across different shipping cycles and potentially develop a more balanced maritime investment profile. The timing of the acquisition appears carefully considered. Dry bulk asset values have been supported by fleet renewal requirements, limited near-term supply growth in several segments and continued demand for versatile bulk carriers. Ultramax bulk carriers remain attractive because they offer wider cargo flexibility than larger bulk carriers and can trade into a broader range of ports. For a maritime investment fund, that flexibility is important because resale liquidity, chartering options and employment diversity can all influence long-term returns. Dee4 Capital Partners Fund II’s acquisition of a second ultramax bulk carrier also shows confidence in disciplined secondhand buying rather than relying only on newbuilding exposure. Acquiring modern Japanese-built ships can give Dee4 Capital Partners Fund II immediate access to earnings while avoiding long construction lead times, shipyard delivery risk and future newbuilding price uncertainty. In a volatile shipping market, the ability to buy ships already trading can be valuable if freight conditions strengthen quickly. Denmark-based shipowner and operator J. Lauritzen has supported Dee4 Capital Partners Fund since the beginning, participating in the first Dee4 Capital Partners Fund’s $72 million close in December 2019. J. Lauritzen also continued its backing of Dee4 Capital Partners Fund II, taking a 10.1% stake in 2024 at the first closing of Dee4 Capital Partners Fund II, which raised $92 million in commitments. The connection with J. Lauritzen is important because J. Lauritzen brings a long Danish maritime heritage and strong dry bulk expertise through Lauritzen Bulkers. J. Lauritzen was established in 1884 and has long been connected with international shipping, maritime investment, dry bulk transportation, gas shipping and shipping-cycle management. Lauritzen Bulkers is especially relevant to the dry bulk move by Dee4 Capital Partners Fund II because Lauritzen Bulkers is a global shipowner and operator focused on dry bulk shipping. Lauritzen Bulkers provides ocean transportation services for dry bulk cargoes and has long experience in the commercial management of bulk carriers across international trades. Lauritzen Bulkers’ dry bulk background gives the partnership wider strategic depth, because the acquisition of ultramax bulk carriers by Dee4 Capital Partners Fund II fits naturally with Lauritzen Bulkers’ long-standing knowledge of handy, handymax, supramax and ultramax bulk carrier markets. Lauritzen Bulkers has historically operated in the smaller and mid-sized dry bulk segments, where commercial performance depends on cargo knowledge, regional positioning, charterer relationships, voyage economics, bunker planning, ballast calculations, port restrictions and fast decision-making. The ultramax bulk carrier MV Dee4 Pine (ex MV Only You) and ultramax bulk carrier MV Dee4 Oak (ex MV Ultra Diversity) fit this trading environment well because ultramax bulk carriers are flexible ships suited to a broad mix of cargo programmes and port combinations. Lauritzen Bulkers’ relevance goes beyond commercial market knowledge. A dry bulk ship investment needs more than capital. A dry bulk ship investment requires understanding of ship quality, chartering potential, residual value, fuel efficiency, expected operating costs, drydock timing, cargo flexibility and the resale market. Lauritzen Bulkers’ position within the wider J. Lauritzen background strengthens the credibility of Dee4 Capital Partners Fund II’s dry bulk expansion, because Lauritzen Bulkers has extensive experience with the practical realities of dry bulk operation. For Dee4 Capital Partners Fund II, the move into dry bulk shipping can be seen as a combination of financial investment discipline and sector-specific maritime knowledge. Dee4 Capital Partners Fund has already shown that Dee4 Capital Partners Fund can identify value in product tankers, while Lauritzen Bulkers contributes long experience in dry bulk employment and dry bulk market cycles. The combination may allow Dee4 Capital Partners Fund II to assess ultramax bulk carrier opportunities not only through asset-price analysis, but also through trading flexibility, commercial usefulness, charterer appeal and market timing. Lauritzen Bulkers’ history also matters because dry bulk shipping is deeply cyclical and often rewards shipowners that understand when to buy, when to sell and when to keep ships exposed to the spot market. Ultramax bulk carriers can generate attractive returns when cargo demand is broad and tonnage supply is tight, but earnings can also weaken quickly when cargo volumes soften or ship availability rises. Lauritzen Bulkers’ experience in managing these cycles gives important context to Dee4 Capital Partners Fund II’s decision to acquire modern Japanese-built ultramax bulk carriers. Dee4 Capital Partners Fund II’s purchase of MV Dee4 Pine (ex MV Only You) also expands the connection between financial capital and practical shipping expertise. Shipping funds can face difficulties when investment decisions are separated from the daily realities of freight markets. Dee4 Capital Partners Fund II appears to be taking a more grounded approach by acquiring ships in segments where maritime experience, chartering awareness and timing can have a direct effect on returns. The involvement of J. Lauritzen and the dry bulk background of Lauritzen Bulkers support that approach. The acquisition also reflects a broader pattern in shipping investment, where specialist funds are moving beyond one sector and building exposure across different ship types when asset cycles look attractive. Dee4 Capital Partners Fund’s first phase was strongly linked with product tankers, but Dee4 Capital Partners Fund II is now expanding into dry bulk through ultramax bulk carriers. This shift does not necessarily mark a departure from the original model. Instead, it shows that Dee4 Capital Partners Fund II is applying the same disciplined asset-cycle method to another shipping segment. The ultramax bulk carrier segment offers Dee4 Capital Partners Fund II a different opportunity from product tankers. Product tankers often depend on refinery flows, clean petroleum product demand and tonne-mile disruption, while ultramax bulk carriers depend on a more fragmented cargo base, including agricultural, industrial and construction-related cargoes. This fragmentation can create opportunities for experienced operators because cargo patterns differ by region, season and port network. Dee4 Capital Partners Fund II’s focus on Japanese-built ultramax bulk carriers may therefore provide access to a practical, liquid and widely employable ship type. MV Dee4 Pine (ex MV Only You) also improves the quality profile of the Dee4 Capital Partners Fund II fleet. A 2017-built ultramax bulk carrier from Shin Kurushima Sanoyas Shipbuilding Co., Ltd. offers a relatively modern age profile, while MV Dee4 Oak (ex MV Ultra Diversity), built at Tadotsu Imabari, gives Dee4 Capital Partners Fund II another Japanese-built ultramax bulk carrier from a respected shipbuilding background. Together, the two ships form the early stage of a dry bulk platform based on quality rather than scale alone. The role of Lauritzen Bulkers in this wider story is important because Lauritzen Bulkers has long been associated with dependable dry bulk transportation and commercial discipline. Lauritzen Bulkers’ experience in dry bulk shipping helps explain why ultramax bulk carriers are attractive: they are large enough to carry meaningful cargo volumes but small enough to remain versatile across ports and trades. For a fund-backed shipowner, this balance between size and flexibility can be especially valuable. The continued support of J. Lauritzen also gives Dee4 Capital Partners Fund II a strong institutional maritime link. J. Lauritzen’s investment in Dee4 Capital Partners Fund II shows that J. Lauritzen is actively participating in a fund platform expanding from product tankers into dry bulk rather than merely observing maritime private equity. This participation aligns J. Lauritzen’s investment activity with Lauritzen Bulkers’ dry bulk heritage and with the wider movement toward flexible maritime capital deployment. Dee4 Capital Partners Fund II’s strategy also reflects the value of experienced leadership in shipping investment. Carsten Mortensen’s background at BW Group and D/S Norden gives Dee4 Capital Partners Fund deep exposure to large-scale shipping management, commodity transportation, tanker markets, dry cargo markets and corporate leadership. Freddie Lee’s background in natural resource investment and Hafnia Tankers adds financial and tanker-market expertise. This leadership blend helps explain why Dee4 Capital Partners Fund II can move between shipping sectors while maintaining a disciplined investment style. Lauritzen Bulkers’ connection adds another layer to the dry bulk side of the strategy. Dry bulk shipping is not simply about buying a ship and waiting for the market to improve. Dry bulk shipping requires daily attention to ship positioning, cargo availability, voyage calculations, regional demand, port congestion, fuel prices and charterer behaviour. Lauritzen Bulkers has long experience in these activities, and that experience is relevant as Dee4 Capital Partners Fund II builds a dry bulk position. The investment also underlines the appeal of ultramax bulk carriers as fund assets. Ultramax bulk carriers are widely traded, relatively liquid and attractive to a broad range of charterers. Ultramax bulk carriers can work in the Atlantic, Pacific, Indian Ocean and regional trades, and ultramax bulk carriers can carry a wide cargo base. This gives Dee4 Capital Partners Fund II flexibility in both employment and eventual resale. From an investor perspective, that flexibility can support income generation and capital appreciation. The involvement of Alpha Omega as seller of MV Dee4 Pine (ex MV Only You) also shows that financial players remain active in trading modern dry bulk tonnage. The sale from one financial player to another suggests that ultramax bulk carriers continue to draw interest from capital providers seeking exposure to the dry bulk cycle. Dee4 Capital Partners Fund II’s purchase price of around $29 million reflects the premium attached to modern Japanese-built tonnage and the appetite for high-quality ultramax bulk carriers. Dee4 Capital Partners Fund II’s earlier acquisition of MV Dee4 Oak (ex MV Ultra Diversity) from Danish shipowner and operator Ultrabulk also adds a Danish dry bulk angle to the story. Ultrabulk is an established dry bulk operator, and the sale of MV Dee4 Oak (ex MV Ultra Diversity) gave Dee4 Capital Partners Fund II its first direct bulk carrier exposure. With MV Dee4 Pine (ex MV Only You), Dee4 Capital Partners Fund II is reinforcing that position and showing that dry bulk allocation is becoming a more meaningful part of the second fund. For J. Lauritzen, the investment in Dee4 Capital Partners Fund II also fits a broader maritime investment identity. J. Lauritzen has developed from a traditional shipping group into a maritime investment platform with interests linked to dry bulk shipping, gas shipping and wider maritime opportunities. Lauritzen Bulkers remains central to that identity because Lauritzen Bulkers represents the dry bulk operating expertise and market history associated with the J. Lauritzen name. The relationship between Dee4 Capital Partners Fund II and J. Lauritzen can therefore be viewed as mutually reinforcing. Dee4 Capital Partners Fund II provides a private equity investment platform with a shipping-sector focus, while J. Lauritzen and Lauritzen Bulkers contribute long-cycle shipping knowledge, dry bulk experience and maritime credibility. In a market where capital alone is often not enough, this combination can strengthen the investment case. Dee4 Capital Partners Fund II’s dry bulk expansion may also benefit from the current market focus on quality tonnage. Charterers, financiers and buyers increasingly consider fuel efficiency, shipyard reputation, environmental performance and remaining trading life. Japanese-built ultramax bulk carriers generally fit these preferences well, and Dee4 Capital Partners Fund II’s decision to acquire two such ships points to a clear focus on assets that can remain attractive across market cycles. Lauritzen Bulkers’ operational perspective can also help identify which ships are likely to remain commercially useful. A ship’s value is not determined only by age, size and shipyard. A ship’s value is also shaped by cargo flexibility, loading and discharge suitability, fuel consumption, maintenance condition, class status, upcoming drydock profile and reputation among charterers. Lauritzen Bulkers’ dry bulk experience gives important context to these operational factors. Dee4 Capital Partners Fund II’s broader mandate also allows Dee4 Capital Partners Fund II to react to changing shipping markets. If product tanker values become less attractive and dry bulk values offer better upside, Dee4 Capital Partners Fund II can shift capital toward dry bulk. If dry bulk prices rise strongly, Dee4 Capital Partners Fund II can consider asset rotation. This flexible structure is consistent with the capital-disciplined approach that has shaped Dee4 Capital Partners Fund since inception. The acquisition of MV Dee4 Pine (ex MV Only You) also suggests that Dee4 Capital Partners Fund II is building dry bulk exposure gradually rather than aggressively. Two ultramax bulk carriers do not create a large dry bulk fleet, but they create a meaningful base. This measured approach allows Dee4 Capital Partners Fund II to test the dry bulk strategy, build operating knowledge, assess market conditions and potentially add further ships if pricing remains attractive. Lauritzen Bulkers’ involvement through the wider J. Lauritzen relationship makes this gradual approach more credible, because Lauritzen Bulkers has the dry bulk background needed to assess whether additional acquisitions would be sensible. The presence of Lauritzen Bulkers also provides a natural knowledge base for evaluating employment options, market timing and ship suitability. For investors in Dee4 Capital Partners Fund II, the move into dry bulk broadens the return profile. The earlier product tanker focus delivered results through a favourable tanker cycle, while the ultramax bulk carrier acquisitions provide exposure to dry cargo fundamentals. If dry bulk market conditions strengthen, Dee4 Capital Partners Fund II could benefit from both earnings and asset-value appreciation. If the dry bulk market weakens, the quality and liquidity of Japanese-built ultramax bulk carriers may help protect downside compared with older or less desirable tonnage. Dee4 Capital Partners Fund II’s second ultramax bulk carrier acquisition therefore represents a carefully structured step into dry bulk shipping rather than a speculative departure from the platform’s original strategy. The purchase builds on Dee4 Capital Partners Fund’s record in product tankers, draws on the maritime investment support of J. Lauritzen, connects naturally with Lauritzen Bulkers’ dry bulk heritage, and gives Dee4 Capital Partners Fund II a stronger position in a versatile segment of the bulk carrier market. As Dee4 Capital Partners Fund II continues to deploy capital, the role of Lauritzen Bulkers and J. Lauritzen may become increasingly important in shaping the dry bulk side of the portfolio. Lauritzen Bulkers’ experience with dry bulk cargoes, charterers, ship employment and market cycles offers a useful complement to Dee4 Capital Partners Fund’s financial discipline and investment structure. Together, this creates a platform that can pursue dry bulk opportunities with both capital-market awareness and shipping-market knowledge. For now, MV Dee4 Pine (ex MV Only You) gives Dee4 Capital Partners Fund II a second modern Japanese-built ultramax bulk carrier and confirms that dry bulk shipping has become a serious part of the second fund’s mandate. Alongside MV Dee4 Oak (ex MV Ultra Diversity), the acquisition points to a selective strategy focused on quality ships, disciplined pricing, flexible employment and cycle-aware investment. With J. Lauritzen as a continuing backer and Lauritzen Bulkers providing a strong dry bulk reference point, Dee4 Capital Partners Fund II is building a more diversified maritime investment platform with exposure to both product tankers and ultramax bulk carriers. 29-April-2026
Denmark-based shipowner and operator J. Lauritzen has named Pardeep Singh Rana as head of research, drawing on Pardeep Singh Rana’s background at Danish Ship Finance as J. Lauritzen expands its internal market and investment capability. Pardeep Singh Rana joined this week and is set to work closely with Kristian Morch and the broader J. Lauritzen team, with Pardeep Singh Rana saying the move offers an opportunity to learn and contribute alongside new colleagues. The appointment aligns with J. Lauritzen’s long-term approach to shipping, where disciplined capital deployment and cycle awareness play a central role in how J. Lauritzen evaluates risk, timing, and portfolio direction. J. Lauritzen is an established Danish maritime group with deep roots in the sector, and J. Lauritzen has built a reputation for relationship-driven participation across shipping markets through multiple cycles, combining operational experience with an investment mindset. Strengthening research supports J. Lauritzen by sharpening how J. Lauritzen tracks freight and asset value dynamics, compares earnings potential across segments, and assesses macro drivers that influence trade flows and chartering demand. A dedicated head of research can also reinforce how J. Lauritzen tests assumptions around regulation, emissions requirements, fuel transitions, and financing conditions, while improving decision support for acquisitions, divestments, charter structures, and longer-dated partnerships. With Pardeep Singh Rana arriving from Danish Ship Finance, J. Lauritzen adds finance-led analytical depth that can help J. Lauritzen bring greater structure to valuation work, scenario analysis, and market monitoring, strengthening how J. Lauritzen selects opportunities and manages exposure as shipping conditions shift. 2-February-2026
Danish shipowner and operator J. Lauritzen, one of the most established maritime names in Northern Europe, has joined a consortium of international investors in a major capital raise for leading marine battery producer Corvus Energy. The Norwegian-based energy storage specialist announced that it has successfully secured $60 million in growth capital from a group of blue-chip investors led by Morgan Stanley Investment Management, alongside Just Climate and J. Lauritzen. This new round of investment underscores growing institutional and industrial confidence in maritime decarbonization technologies and highlights the active participation of traditional shipowners in shaping the sector’s clean energy future. Founded in 2009, Corvus Energy has become a global leader in the design and production of advanced maritime energy storage systems (ESS), providing battery solutions for both hybrid and fully electric ships. The company currently supplies more than half of the world’s zero-emission vessels and has delivered over 1,300 ESS installations across various ship segments, including offshore service ships, ferries, bulk carriers, and cargo ships. Corvus Energy’s technology is widely regarded as central to the next phase of maritime electrification, enabling reduced fuel consumption, lower emissions, and improved operational efficiency across global fleets. Kristian Morch, CEO of J. Lauritzen, said, “Our participation in Corvus Energy’s growth reflects our mission to drive meaningful change in the maritime sector through long-term, sustainable investments. Corvus Energy has consistently demonstrated that scalable, commercially viable zero-emission solutions are achievable for the maritime industry, and we are proud to contribute to its continued development.” Fredrik Witte, CEO of Corvus Energy, added, “The shipping industry is now entering a pivotal decade for decarbonization. The demand for clean energy maritime solutions is accelerating rapidly, with shipowners seeking both emissions reductions and operating cost advantages over fossil-fueled alternatives. We are pleased to welcome our new investors, including J. Lauritzen, as we expand to meet growing global demand for zero-emission systems.” Founded in 1884 and headquartered in Copenhagen, J. Lauritzen has been a cornerstone of the Danish shipping industry for over 140 years. The shipowner has played an influential role in the development of modern maritime transport, evolving from its early focus on livestock and tramp shipping into a diversified maritime investment platform. Today, J. Lauritzen is actively engaged in multiple maritime segments, including dry bulk, gas shipping, offshore logistics, and clean technology ventures. The group has built its reputation on operational excellence, long-term partnerships, and a consistent focus on sustainability, innovation, and safety. One of J. Lauritzen’s key subsidiaries, Lauritzen Bulkers A/S, operates as a leading dry bulk carrier specializing in the global transport of minor bulk commodities such as grains, fertilizers, steel products, and forest goods. Lauritzen Bulkers A/S manages a modern fleet of handysize and supramax bulk carriers, operating worldwide under both owned and chartered tonnage. The shipowner’s operational headquarters in Copenhagen, combined with offices in Singapore and Stamford, allows it to maintain a strong global presence and respond to market dynamics efficiently. Lauritzen Bulkers A/S has been recognized for its disciplined commercial approach and commitment to fleet optimization, regularly investing in eco-efficient bulk carriers to meet the environmental standards set by the International Maritime Organization (IMO) and the European Union. Over the past decade, J. Lauritzen has undergone a strategic transformation, shifting from traditional ownership models toward more flexible asset management and joint ventures, allowing it to participate in both established and emerging sectors of the maritime economy. Its recent focus on environmental technology and sustainable propulsion—demonstrated through the Corvus Energy investment—aligns with its broader commitment to decarbonization and long-term value creation. The group’s strategy increasingly emphasizes innovation-led growth, with J. Lauritzen positioning itself not only as a shipowner but as a forward-looking maritime investor dedicated to supporting the global transition to cleaner, smarter shipping. Previous shipping investors in Corvus Energy include Andreas Sohmen-Pao-led BW Group, which also recognized the importance of battery-powered technology in accelerating the industry’s shift toward zero-emission operations. With J. Lauritzen’s involvement, Corvus Energy gains not only fresh capital but also strategic insight from one of Europe’s oldest and most respected shipowners—reinforcing the synergy between traditional maritime expertise and the emerging clean energy technologies shaping the next generation of global shipping. 11-October-2025
Danish shipowner and operator J. Lauritzen has revealed a new wave of maritime investments, including fresh commitments to Nordic maritime funds and the acquisition of ownership stakes in modern container ships. The Copenhagen-headquartered shipowner J. Lauritzen detailed in its 2024 annual report that it has expanded its investment footprint by injecting capital into multiple Nordic-based funds, purchasing equity interests in container ships, and taking a minority position in a rival dry bulk operation. This diversified investment strategy underscores J. Lauritzen’s evolution from a traditional shipowner into a multi-segment maritime investment platform with an expanding global presence. According to the report, Danish investment vehicles have also channeled funding into NRP, while J. Lauritzen has allocated fresh capital to Dee4 Capital Partners and Navigare Capital Partners — two prominent Nordic shipping investment managers. These strategic collaborations reflect J. Lauritzen’s intent to strengthen its financial partnerships within the broader Scandinavian shipping ecosystem while diversifying its exposure to different maritime asset classes and financial structures. By maintaining active participation in both fund management initiatives and direct ship ownership, J. Lauritzen continues to balance financial discipline with long-term industry engagement. Founded in 1884 and based in Copenhagen, J. Lauritzen stands as one of Denmark’s oldest and most respected maritime enterprises. Over the decades, J. Lauritzen has transformed from a family-controlled trading operation into a globally recognized shipping investor with an established presence across multiple shipping segments, including dry bulk, gas carriers, and now container ships. The shipowner’s long-standing reputation is built on operational reliability, prudent risk management, and strategic fleet development. J. Lauritzen’s modern investment philosophy blends traditional maritime expertise with asset-light partnerships and financial innovation, allowing it to remain resilient and profitable through multiple shipping market cycles.J. Lauritzen’s dry bulk activities are primarily managed through its subsidiary Lauritzen Bulkers A/S, a dedicated operator specializing in handysize and supramax bulk carriers serving key trade routes worldwide. Lauritzen Bulkers A/S operates a fleet of eco-efficient bulk carriers designed to meet the growing demand for sustainable maritime logistics solutions. The operator’s commercial network spans Asia, Europe, and the Americas, ensuring global cargo coverage across diverse commodities such as grain, fertilizers, steel products, and minerals. Lauritzen Bulkers A/S has earned a strong reputation for reliability, customer service, and operational excellence, maintaining long-term relationships with charterers, traders, and industrial clients. Its commercial strategy emphasizes flexibility, safety, and environmental performance — qualities that have made Lauritzen Bulkers A/S a trusted name in the dry cargo segment.In 2024, J. Lauritzen reported net earnings of $74.6 million, reflecting a solid financial year driven by improved asset values, stable chartering income, and prudent portfolio management. The positive results underline J. Lauritzen’s successful transformation into a diversified maritime investment platform capable of balancing traditional ship operations with innovative financial strategies. The shipowner’s renewed focus on sustainability, digital optimization, and disciplined capital allocation positions it strongly for long-term competitiveness in the evolving global shipping market.By expanding its role in both direct ship ownership and maritime finance, J. Lauritzen demonstrates its continued ambition to play a leading role in shaping the next generation of Danish and Nordic maritime enterprise. Through its subsidiary Lauritzen Bulkers A/S and its growing involvement in shipping funds and container ship ventures, J. Lauritzen remains committed to fostering operational excellence, environmental stewardship, and long-term value creation for stakeholders — staying true to its 140-year legacy while adapting to the changing dynamics of global trade and ship finance. 6-October-2025
Copenhagen-based shipowner and operator Lauritzen Bulkers A/S is accelerating its entry into the ultramax bulk carrier segment with a strategic hire from Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S, as part of its growth strategy ahead of new CEO Martin Sato’s official appointment. Lauritzen Bulkers A/S, a wholly owned subsidiary of the Lauritzen Foundation and a key player in the Danish shipping industry, has a long history dating back to its founding in 1884 and is well-known for its global operations in the handysize bulk carrier market, with a fleet trading worldwide carrying a wide range of dry bulk commodities including grains, coal, fertilizers, and steel products. The shipowner and operator manages a mix of owned and long-term chartered ships, placing strong emphasis on customer relationships, operational excellence, and sustainability. Traditionally focused on handysize bulk carriers, Lauritzen Bulkers A/S announced in May 2025 its decision to expand into the larger ultramax bulk carrier segment, marking a significant diversification aimed at enhancing market coverage, improving economies of scale, and capturing new trade opportunities. This expansion, which complements its established handysize operations, comes as the company prepares for leadership transition, with Martin Sato set to assume the role of CEO on 18 August 2025 following the February 2025 departure of former CEO Martin Egvang, who resigned due to stress. 12-August-2025
Japanese shipowner Shinomiya Tanker has reportedly engaged three compatriot shipyards for the construction of five handysize bulk carrier newbuildings. Tokushima-based Japanese shipowner Shinomiya Tanker has placed one 40K DWT handysize bulk carrier newbuilding at Naikai Zosen and has ordered two additional handysize bulk carrier newbuildings each from Imabari Shipbuilding and Hakodate Dockyard, with each unit priced at approximately $33m. The first handysize bulk carrier newbuilding, associated with a charter agreement involving Copenhagen-based shipowner and operator Lauritzen Bulkers A/S, had been quietly ordered earlier and is scheduled for delivery in 2025, though details have only recently emerged. The remaining four handysize bulk carrier newbuildings are expected to be delivered in 2027 and will enter into charter arrangements with South Korean shipowner and operator Hyundai Merchant Marine (HMM), as well as shipowners based in the United Arab Emirates and the United Kingdom. Established in 1968, Japanese shipowner Shinomiya Tanker currently operates a fleet of 10 ships, including four bulk carriers, and counts Gearbulk, Centurion Bulk, Tomini Shipping, Union Maritime, Iino Gas Transport, and MSC among the charterers of its ships. 17-June-2025
Copenhagen-based shipowner and operator Lauritzen Bulkers A/S has named Martin Sato as its incoming CEO. Martin Sato, who dedicated 18 years to the dry bulk division of Danish shipowner J. Lauritzen, is set to join Lauritzen Bulkers A/S by December 2025, transitioning from BaltNav, a fellow handysize bulker company where he has held the position of CEO since 2024. Kristian Morch, chairman of Danish shipowner and operator Lauritzen Bulkers A/S, remarked that Martin Sato is returning with extensive expertise across the dry bulk shipping sector and that Martin Sato consistently demonstrates the values, culture, and integrity that define Lauritzen Bulkers A/S in Martin Sato’s business conduct. Martin Sato will succeed Martin Egvang, who stepped down from the role in March 2025. In response to the appointment, Martin Sato expressed that beginning a career in dry bulk shipping at Lauritzen Bulkers A/S and now being entrusted with the CEO position is a significant privilege, and that Martin Sato looks forward to rejoining the team and contributing to the ongoing achievements of Lauritzen Bulkers A/S. Additionally, Copenhagen-based shipowner and operator Lauritzen Bulkers A/S is appointing a new CFO, with Kristian Wærness, the former head of CIP Management Group, scheduled to assume the role by August 2025. Kristian Wærness will replace Jacob Winthereik, who is transitioning to J. Lauritzen as CFO and had also served as interim CEO of Danish shipowner and operator Lauritzen Bulkers A/S following Martin Egvang’s departure. Lauritzen Bulkers A/S is a global operator specializing in the handysize dry bulk segment, with a fleet of around 80 ships under commercial management. The shipowner and operator Lauritzen Bulkers A/S focuses on transporting agricultural products, fertilizers, cement, steel, and forest products across major global trade lanes. With a legacy tracing back to the J. Lauritzen group, Lauritzen Bulkers A/S operates out of its headquarters in Copenhagen and maintains a strong international presence through its offices and partnerships worldwide, offering tailor-made shipping solutions with a focus on long-term customer relationships and operational excellence. 20-May-2025
The Copenhagen-based shipping company, Lauritzen Bulkers, has completed the acquisition of the Canadian shipping firm Alexander & Blake Ltd., known for its expertise in breakbulk and parcel shipping. Lauritzen Bulkers, which operates a fleet of 110 geared handysize and ultramax bulk carriers, has taken ownership of the Burlington-based Alexander & Blake Ltd. for an undisclosed amount. This acquisition enhances Lauritzen Bulkers’ chartering and freight services by adding significant competencies and strengthening customer relationships. Alexander & Blake Ltd., with over 30 years of experience in the North and South American markets, will maintain its current workforce, operations, and customer agreements under the continued brand name Alexander & Blake – by Lauritzen Bulkers. Rasmus Francis Jensen, Vice President of Chartering and Lauritzen Bulkers Parcel Service, commented, “The past months of discussions with the team at Alexander & Blake have solidified their outstanding skills and the immediate value they bring to Lauritzen Bulkers’ global shipping operations.” 6-March-2025
Martin Egvang has resigned from his position as CEO of Copenhagen-based shipowner and operator Lauritzen Bulkers, attributing his decision to stress-related concerns. “I have been experiencing escalating stress-related symptoms, which have reached an unsustainable level, and I have therefore concluded that stepping down as CEO of Lauritzen Bulkers is the right decision for me,” Martin Egvang stated. Martin Egvang succeeded Niels Josefsen in September 2024, having previously joined Danish operator Integrity Bulk, which was acquired by Singapore’s Centurion Bulk in 2024. Lauritzen Bulkers, a subsidiary of the J. Lauritzen Group, is a leading player in the dry bulk shipping industry, specializing in the transportation of commodities such as grain, coal, and iron ore. With a fleet of modern vessels and a strong focus on sustainability and innovation, the company has built a reputation for reliability and efficiency in the global shipping market. Lauritzen Bulkers operates globally, serving clients in key markets across Europe, Asia, and the Americas. “Although his time with us was brief, I would like to express my gratitude to Martin Egvang for his dedicated efforts and the strategic vision he established for Lauritzen Bulkers. We wish him all the best moving forward,” said Kristian Mørch, who will serve as executive chairman on an interim basis. CFO Jacob Winthereik will take on the role of interim CEO at the Copenhagen-based shipowner and operator Lauritzen Bulkers A/S. “This is not how I envisioned my tenure at this company concluding, but it is the necessary step under the current circumstances,” Martin Egvang added. The company has assured stakeholders that its operations will continue seamlessly during this transition, with a strong leadership team in place to uphold its commitment to excellence and customer satisfaction. Lauritzen Bulkers remains focused on its long-term goals, including further investments in sustainable shipping solutions and maintaining its position as a trusted partner in the dry bulk sector. 4-March-2024
Connecticut-based ship operator Pioneer Navigation Ltd has recruited two chartering professionals from Copenhagen-based shipowner and operator Lauritzen Bulkers. The team members transitioning include Peter Bro, a veteran at Lauritzen Bulkers, and Chris Gutierrez, who served as senior chartering manager. Peter Bro, who has been with the Lauritzen Bulkers’ Stamford office for approximately 20 years and held the position of general manager, has moved along with Gutierrez to join the bulker operator Pioneer Navigation Ltd. This shift marks a significant change for Lauritzen Bulkers’ office in Connecticut, as two of its key staff members embark on new roles. 8-September-2024
Ulrik Andersen has joined the maritime investment arm of Copenhagen-based shipowner and operator J. Lauritzen, Lauritzen NexGen, following his departure as chief executive of the Bermuda-registered and Norway-based dry bulk shipping company Golden Ocean Group (GOGL), backed by John Fredriksen, in 2023. Lauritzen NexGen, a part of J. Lauritzen, currently has three methanol dual-fuel kamsarmax bulk carriers on order at Tsuneishi Shipbuilding in Japan, scheduled for delivery in Q4 2026 and Q1 2027. These carriers, which are capable of running on green methanol and biodiesel, are set to be some of the first zero-emission capable bulk carriers in the world and will be chartered to commodities giant Cargill for at least seven years. In June 2023, Ulrik Andersen announced his decision to step down from Golden Ocean Group (GOGL) but agreed to remain involved with the company until September 2023. Prior to his role at the Nasdaq-and Oslo-listed bulker owner, Andersen held the position of CEO at Avance Gas and had previous engagements with Petredec, Neu Gas Shipping, and as the head of the Maersk VLGC pool. In his new capacity, Andersen will collaborate with J. Lauritzen to explore growth opportunities and strategic partnerships for Lauritzen NexGen. J. Lauritzen has expressed plans to expand its business by further investing in zero-emission capable ships, ideally in collaboration with charterers, shipyards, financiers, and potentially equity partners. 27-August-2024
Lauritzen Bulkers A/S has named the founder and CEO of Integrity Bulk, Martin Egvang, as its new CEO. Martin Egvang will become the CEO of Danish shipowner and operator Lauritzen Bulkers A/S on September 1, 2024. Martin Egvang will be taking over the role from Niels Josefsen, who announced in April 2024 that he would be retiring to spend time with family and friends and on personal interests. The departing Niels Josefsen will continue in his role until Martin Egvang is in place, and a handover has been completed. Lauritzen Bulkers A/S is very grateful for the way that Niels Josefsen has made himself available for this transition of leadership, and Danish shipowner and operator Lauritzen Bulkers A/S wishes Niels Josefsen all the best in the future. Copenhagen-based shipowner and operator Lauritzen Bulkers A/S, which operates within the handysize bulk carrier segment, has appointed Martin Egvang, who has almost a decade of experience as the head of Integrity Bulk, within the same segment. Before establishing Integrity Bulk, Martin Egvang gained dry bulk and management experience in Clipper, Armada Bulk, and A.P. Moller-Maersk. Martin Egvang has vast experience in all parts of dry bulk shipping. 5-June-2024
Niels Josefsen is resigning from his role as the chief executive of the Danish handysize operator, Lauritzen Bulkers. The Copenhagen-headquartered shipowning and operating firm, Lauritzen Bulkers, announced that Niels Josefsen is retiring to dedicate more time to his family, friends, and personal pursuits. In response, the Board of Directors at Lauritzen Bulkers has initiated the process to find a new CEO. However, Niels Josefsen will continue to serve in his role until a suitable successor has been appointed. “Leading Lauritzen Bulkers for the past five years has been an incredibly rewarding experience, and I take pride in our collective accomplishments. While I will greatly miss my colleagues and the company, I am committed to making the leadership transition as seamless as possible,” Niels Josefsen, the outgoing CEO of Lauritzen Bulkers, remarked. Niels Josefsen has been at the helm of Lauritzen Bulkers, which manages roughly hundred handy bulk carriers, since December 2018. 9-April-2024
The sale of scrubber-equipped handysize bulk carriers is a relatively uncommon event in the maritime industry. Yet, Lauritzen Bulkers, a distinguished shipowner and operator based in Copenhagen, has impressively finalized the sale of a second such vessel within a mere month. Spearheaded by Niels Josefsen, Lauritzen Bulkers has been navigating the significant upward trend in bulk carrier values to its advantage. The company recently sold the MV Asian Bulker, a handysize bulk carrier built in 2018 with a deadweight capacity of 36K, for an estimated $24 million. This transaction mirrors the sale price of a similar vessel, the MV Australian Bulker, which Lauritzen Bulkers disposed of at the end of February 2024, likely yielding a considerable profit from each sale. Lauritzen Bulkers incorporated these two vessels, constructed by Shikoku Dockyard, into its fleet in August 2023, right before a marked increase in the market value of dry bulk vessels. Lauritzen Bulkers, a key player in the global shipping sector, boasts a long-standing reputation for excellence and innovation in maritime logistics. With a rich history that spans several decades, the company has established itself as a leading provider of bulk cargo transportation services worldwide. Specializing in the handysize and supramax segments, Lauritzen Bulkers operates a diverse and modern fleet, meticulously designed to meet the varied demands of its global clientele. Lauritzen Bulkers’s strategic investments in eco-friendly technologies, such as scrubbers, underscore its commitment to sustainable shipping practices and its adaptation to the evolving regulatory landscape governing maritime emissions. Lauritzen Bulkers’ proactive approach in leveraging market trends and its dedication to environmental stewardship exemplify its leading role in shaping the future of the dry bulk shipping industry. 23-March-2024
Copenhagen-based shipowner and operator Lauritzen Bulkers has demonstrated adept timing in navigating the market. Niels Josefsen-led shipowner and operator Lauritzen Bulkers successfully sold the MV Australian Bulker, a six-year-old, 36K DWT open hatch handysize bulk carrier, for approximately $24 million, realizing a profit of several million dollars from the transaction. In the previous August, Lauritzen Bulkers, a handysize bulk carrier entity based in Copenhagen, disclosed the acquisition of three handysize bulk carriers: the MV Asian Bulker and MV Australian Bulker, both constructed in 2017, and the MV Iceland Bulker, built in 2015. This move marked the company’s strategic re-entry into ship owning, following the disposal of its remaining fleet the prior year, by discreetly acquiring vessels from the fleets of Pacific Carriers and Grace Ocean. Lauritzen Bulkers focuses on the handysize bulk carrier market, managing over 100 ships across five international locations. 26-February-2024
Danish maritime investment firm J. Lauritzen, which also owns Copenhagen-based shipowner and operator Lauritzen Bulkers, has divested its shares in Hafnia, a product tanker unit of Singapore-based BW Group. The sale was conducted through a block sale managed by Pareto Securities. J. Lauritzen’s history with Hafnia dates back to 2010 when it was one of the founding partners of Hafnia Management. In 2013, J. Lauritzen sold its fleet of product tankers to Hafnia Tankers and acquired a minority stake in the company. In 2019, Hafnia was created through a merger between Hafnia Tankers and Singapore-based BW Tankers. Today, Hafnia is a major player in the industry, listed on the Oslo Stock Exchange, with offices in Singapore, Copenhagen, Houston, and Dubai, and a fleet of over 200 ships. Under the leadership of Kristian Mørch, Danish maritime investment firm J. Lauritzen decided to capitalize on this opportunity by selling all its shares in Hafnia for around $29 million. The Hellerup-based J. Lauritzen also holds interests in other companies, including dry bulk owner and operator Lauritzen Bulkers, BW Epic Kosan, and offshore wind vessel players Eneti and Cadeler. 30-October-2023
Copenhagen-based shipowner and operator Lauritzen Bulkers has magnanimously expanded its fleet, asserting absolute proprietorship of a triad of bulk carriers. Niels Josefsen-led shipowner and operator Lauritzen Bulkers acquired 2017 built handysize bulk carrier MV Asian Bulker, 2017 built handysize bulk carrier MV Australian Bulker, and 2015 built handysize bulk carrier MV Iceland Bulker. In the month of August, these trio of crane-equipped bulk carriers were seamlessly assimilated into Danish shipowner and operator Lauritzen Bulkers’ prestigious flotilla. Intriguingly, Lauritzen Bulkers presently presides over eight (8) handysize bulk carriers, each boasting an average lineage of six years; intriguingly, a pair from this fleet have found new custodians, their identities veiled in mystery. 2017 built handysize bulk carrier 36K DWT MV Asian Bulker, which currently commands a valuation approximating $22 million, transitioned into Lauritzen Bulkers’ guardianship from Singapore-based shipowner and operator Grace Ocean, though the financial intricacies of this transaction remain shrouded. 2017 built handysize bulk carrier MV Australian Bulker was previously chartered out to Lauritzen Bulkers by Grace Ocean. 2015 built handysize bulk carrier 37K DWT MV Iceland Bulker (ex MV Glorious Mahuta) was acquired for an approximate sum of $20.5 million from Singapore-based shipowner and operator Pacific Carriers. 25-August-2023
Copenhagen-based shipowner and operator Lauritzen Bulkers has commissioned a third kamsarmax bulk carrier fueled by methanol and equipped with dual-fuel capabilities from Tsuneishi Shipbuilding. Niels Josefsen-led shipowner and operator Lauritzen Bulkers has announced that the newly ordered vessel will be an 81,200 deadweight tonnage (dwt) kamsarmax bulk carrier, which will supplement the company’s previous procurement of two bulk carriers. According to the Lauritzen Bulkers, this kamsarmax bulk carrier will have the ability to operate with zero carbon emissions when powered by environmentally friendly methanol and biodiesel. Tsuneishi Shipbuilding will construct all three bulk carriers. Similar to the first two bulk carriers, the third bulk carrier will be exclusively owned by Lauritzen NexGen Shipping and operated by Cargill Ocean Transportation, a renowned commodities giant, for a minimum period of seven years. Cargill Ocean Transportation CEO Jan Dieleman stated that the company is delighted to witness J. Lauritzen’s commitment to advancing the ecological agenda, and Cargill Ocean Transportation is thrilled to incorporate another dual-fuel bulk carrier into the company’s fleet. The first two bulk carriers were placed on order in April 2023. Comparable to the third bulk carrie, no details regarding the pricing or delivery dates of the ships have been disclosed. Danish shipowner and operator Lauritzen Bulkers previously stated that the partnership with Cargill Ocean Transportation was facilitated by the Copenhagen Commercial Platform, which will also play a role in the vessel’s operation and further partnership development. Tsuneishi Shipbuilding is steadily establishing itself as the preferred shipyard for constructing methanol-powered dry bulk carriers. In January 2023, Cargill Ocean Transportation collaborated with Mitsui & Co to procure a pair of kamsarmax bulk carriers from the Tsuneishi Shipbuilding, scheduled for delivery in Q1 2026. 20-June-2023
Copenhagen-based shipowner and operator Lauritzen Bulkers signed an LOI (letter of intent) to construct two (2) methanol dual-fuelled kamsarmax bulk carriers at Tsuneishi Shipbuilding, backed by long-term time charters to Geneva-based Cargill Ocean Transportation. Niels Josefsen-led shipowner and operator Lauritzen Bulkers will take the delivery of two (2) 81K DWT methanol dual-fuelled kamsarmax bulk carriers in 2026. Lauritzen Bulkers is owned by J Lauritzen. Lauritzen Bulkers chartered two (2) methanol dual-fuelled kamsarmax bulk carriers to Cargill Ocean Transportation for around seven (7) years. Lauritzen Bulkers is actively engaged in the decarbonization of the shipping sector, and Lauritzen Bulkers take great pride in participating in a forward-thinking collaboration with Cargill Ocean Transportation, who share Lauritzen Bulkers’ aspirations to bring about substantial change in the shipping industry. The methanol dual-fuelled kamsarmax bulk carriers will have the capability to engage in trade with zero carbon emissions, courtesy of green methanol and biodiesel propellant. Danish shipowner and operator Lauritzen Bulker is eager to collaborate with Cargill Ocean Transportation in pursuit to propel the shipping industry forward in the realm of zero-carbon fuels. J. Lauritzen and Lauritzen Bulkers have announced the creation of a new firm called Lauritzen NexGen Shipping, which will possess two (2) kamsarmax bulk carriers that operate on methanol dual-fuel. This enterprise will serve as a launchpad for further investment in zero-carbon and sustainable shipping assets. The joint venture between Copenhagen-based shipowner and operator J Lauritzen and Cargill Ocean Transportation has been facilitated by Copenhagen Commercial Platform (CCP). The Copenhagen Commercial Platform (CCP) will play a crucial role in the operation and future expansion of this joint venture. Earlier this year, Cargill Ocean Transportation and Mitsui & Co. placed an unprecedented order for the first two methanol dual-fuelled bulk carriers. A rising number of shipping enterprises, spearheaded by the Danish container shipping behemoth, AP Moller-Maersk, have commenced placing orders for newly built ships fueled by methanol. According to data compiled by DNV, a classification society, 80 newly constructed ships fueled by methanol have been ordered, with expected delivery dates extending up to 2028. Recent developments include the placement of orders for the first-ever car carriers equipped to handle methanol, in addition to a string of methanol bunkering tankers and four chemical tankers that are methanol-ready. Previously, the Danish shipowner and operator, Lauritzen Bulkers, transitioned to an asset-light model for operating ships. 4-April-2023
Copenhagen-based shipowner and operator Lauritzen Bulkers reported an operating profit of $115 million for 2022 from core dry bulk business. In 2021, Lauritzen Bulkers reported an operating profit of $91 million. Danish shipowner and operator Lauritzen Bulkers signed a contract for 16 new handysize bulk carriers after selling almost entire fleet. In 2019, Lauritzen Bulkers transformed into an asset-light handysize ship operator. In 2020, Copenhagen-based shipowner and operator J Lauritzen has split bulk carrier and LPG carrier operations. Niels Josefsen-led shipowner and operator Lauritzen Bulkers boosted bulk carrier renewal progress after a very profitable 2022. Copenhagen-based shipowner and operator Lauritzen Bulker has completely renewed the fleet during a year that saw it make more money despite falling dry bulk freight rates. Lauritzen Bulkers is owned by J Lauritzen. Lauritzen Bulkers achieved the best result for more than a decade. Previously, Danish shipowner and operator Lauritzen Bulkers switched to an asset-light ship operating model. 24-February-2023
Copenhagen-based shipowner and operator Lauritzen Bulkers reported a $103 million net profit for 2021. Niels Josefsen-led shipowner and operator Lauritzen Bulkers reported the best results since 2010. Previously, Danish shipowner and operator Lauritzen Bulkers switched to an asset-light vessel operating model. However, Lauritzen Bulkers may look for opportunities and may acquire bulk carriers. Lauritzen Bulkers operates around 100 chartered-in bulk carriers. According to Lauritzen Bulkers, bulk carrier prices are extremely high at this point. Copenhagen-based shipowner and operator Lauritzen Bulkers mainly operates handysize bulk carriers. Lauritzen Bulkers does not have strategies to move into other vessel sizes at the moment. Currently, Copenhagen-based shipowner and operator Lauritzen Bulkers owns four (4) bulk carriers. 2012 built handysize bulk carrier 38K DWT MV Anne Mette Bulker, 2012 built handysize bulk carrier 38K DWT MV Milau Bulker, 2011 built handysize bulk carrier 37K DWT MV Seastar Endeavour, and 2018 built handysize bulk carrier 34K DWT MV Sinlau Bulker. 24-February-2022
Copenhagen-based shipowner and operator Lauritzen Bulkers reported the best annual profit since 2010. Niels Josefsen-led shipowner and operator Lauritzen Bulkers adapted a short-term trading and ship operating model. In 2021, Lauritzen Bulkers reported net earnings of $103 million. In 2020, Lauritzen Bulkers reported revenue of $837 million. In 2021, Lauritzen Bulkers reported net earnings of $103 million. Danish shipowner and operator Lauritzen Bulkers aims to invest in bulk carriers when the timing is good. In 2021, Lauritzen Bulkers chartered an average of 80 bulk carriers. Lauritzen Bulkers anticipates dry cargo markets to stay robust in 2022. Lauritzen Bulkers predicts to report positive net results in 2022. 22-February-2022
Copenhagen-based shipowner and operator Lauritzen Bulkers cutting of long-term charters. Lauritzen Bulkers has been concentrated on increased activity in short-term bulk carrier charters for up to four (4) months. Short-term bulk carrier charters provided a strong performance and income. Danish shipowner and operator Lauritzen Bulkers has signed Freight Forward Agreements (FFA) to reduce the risks. According to Lauritzen Bulkers, long-term time-charter tonnage was redelivered to shipowners and replaced by shorter-term period bulk carriers at attractive rates. Copenhagen-based shipowner and operator Lauritzen Bulkers expects positive results in 2021. Lauritzen Bulkers’ Dubai has expanded its charterer base in one (1) year. Furthermore, Lauritzen Bulkers is going to open an office in Hong Kong in April 2021. Lauritzen Bulkers’ Hong Kong office is going to serve Chinese shipowners and charterers. Lauritzen Bulkers has continued to reduce its long-term chartered fleet as the company targets new Chinese charterers. In 2020, Lauritzen Bulkers operated an average of 73 bulk carriers and reported a pre-tax loss of $18 million. Shipowner and operator Lauritzen Bulkers has reported an annual loss every year since 2016. Lauritzen Bulkers transformed into an asset-light handysize ship operator. In 2020, Copenhagen-based shipowner and operator J Lauritzen has split bulk carrier and LPG carrier operations. In March 2021, J Lauritzen’s LPG shipowner arm Lauritzen Kosan concluded a merger with BW Group’s Epic Gas. 25-March-2021
Copenhagen based shipowner and operator J Lauritzen has split bulk carrier and LPG carrier operations. Lauritzen Bulkers and Lauritzen Kosan are soon legitimately separate entities with two stand-alone operations. Lauritzen Bulkers fancied an asset-light model in the handysize market. Fleets of Lauritzen Bulkers and Lauritzen Kosan are now fully refinanced with long-term capital. Lauritzen Bulkers has a short-term pool of bulk carriers and enough cargoes. In 2019, J Lauritzen reported a net loss of $105 million. In 2019, J Lauritzen operated an average fleet of 104 ships. In the last 6 months, Lauritzen Bulkers sold 7 handysize bulk carriers, as part of the switch to an asset-light model. 1-July-2020
Copenhagen-based shipowner and operator Lauritzen Bulkers recruited Mette Stenild Gron as the company’s head of global operations. Previously, Mette Stenild Gron was working at compatriot Norden. Mette Stenild Gron will join Lauritzen Bulkers’ Copenhagen office on 1 January 2020. Lauritzen Bulkers aim to expand in short-term handysize bulk carrier chartering. Before joining Norden, Mette Stenild Gron worked for Simpson Spence Young (SSY) and Neu Seeschiffahrt. Shipowner and operator Lauritzen Bulkers sold off much of its owned fleet to focus on asset-light model. 15-November-2019
Copenhagen based shipowner and operator Lauritzen Bulkers has sold another bulk carrier. Lauritzen Bulkers sold 2011 built handysize bulk carrier 31K DWT MV Elvira Bulker. MV Elvira Bulker is the seventh bulk carrier sale since June 2019. MV Elvira Bulker was built Hakodate Shipyard, Japan in 2011. Lauritzen Bulkers sold MV Elvira Bulker to Greek shipowner for about $10.3 million. MV Elvira Bulker is due for dry-docking. Danish shipowner and operator Lauritzen Bulkers remains as a giant player in the handysize market, despite trimming its fleet of owned ships. At the end of 2018, Lauritzen Bulkers operated 58 handysize bulk carriers. After the sale of MV Elvira Bulker, Lauritzen Bulkers has left with just four (4) Japanese built handysize bulk carriers. 22-September-2019
Copenhagen based shipowner and operator Lauritzen Bulkers has continued to trim its shipowning activities with the sale of three (3) handysize bulk carriers to Clipper Group.
- MV Orchard Bulker (32K DWT 2010 built)
- MV Sentosa Bulker (32K DWT 2010 built)
- MV Emilie Bulker (32K DWT 2010 built)
Clipper Group has acquired three (3) handysize bulk carriers at an undisclosed price. According to market veterans, these handysize bulk carriers are worth around $8.3 million each. MV Orchard Bulker, MV Sentosa Bulker and MV Emilie Bulker were built at Jiangmen Nanyang Ship Engineering, China in 2010. Clipper Group has renamed three (3) handysize bulk carriers as MV Clipper Appollonia, MV Clipper Aegina and MV Clipper Alexandria. Currently, Danish shipowner and operator Clipper Bulk now operates around 85 handysize and supramax bulk carriers. Bulk carriers are operated by the two Clipper Bulk-managed pools:
- Clipper Handy Pool
- Clipper Ultra Pool
In July 2019, Copenhagen based shipowner and operator Lauritzen Bulkers sold 2011 built handysize bulk carrier 31K DWT MV Hedvig Bulker for around $10.3 million. Lauritzen Bulkers is a subsidiary of J Lauritzen. Lauritzen Bulkers remains as a big player in the handysize bulk segment, despite trimming its fleet of owned bulk carriers. At the end of 2018, Lauritzen Bulkers operated 58 handysize bulk carriers. Furthermore, in the same period Lauritzen Bulkers sold 2010 built handysize bulk carriers 31K DWT MV Emma Bulker and MV Louise Bulker to Taylor Maritime. Danish shipowner and operator Clipper Bulk had not bought a bulk carrier since 2016. 6-September-2019
Copenhagen based shipowner and operator Lauritzen Bulkers trims owned fleet further. Lauritzen Bulkers sold 2011 built 31K DWT MV Hedvig Bulker for about $10.3 million to Taylor Maritime. Hong Kong-based Taylor Maritime operates a homogenous fleet of high-quality Japanese handysize dry bulk carriers. MV Hedvig Bulker was built at Hakodote Shipyard, Japan in 2011. Danish Lauritzen Bulkers was a gigantic player in the handysize market, but the company has trimmed its own fleet. Lauritzen Bulkers sold nine (9) handysize bulk carriers in 2018. Since the beginning of July 2019, Lauritzen Bulkers also sold 2010 Japanese built 31K DWT MV Emma Bulker and MV Louise Bulker to Taylor Maritime for about $9.5 million each. 27-August-2019
Lauritzen Bulkers is to open a new office in Dubai in August 2019. Lauritzen Bulkers target the Middle Eastern market. Middle East region is an important and growing area for Lauritzen Bulkers. Lauritzen Bulkers will be closer to existing and new customers. CEO Niels Josefsen explained that Lauritzen Bulkers Dubai office is part of the Lauritzen Bulkers’s goal to double its overall short-term trading activity in the Middle East region. Copenhagen headquartered Lauritzen Bulkers already has offices in, Singapore, Stamford USA, and Denmark. Lauritzen Bulkers Dubai office will be led by Simon Fast as of 1 August 2019. Previously, Simon Fast was a chartering manager at MUR Shipping and Ultrabulk. Besides Simon Fast, Christian Elbaek will be transferred to the Dubai office from Copenhagen. In February 2019, Lauritzen Bulkers warned investors that the company is unlikely to return to profitability in 2019. This week Lauritzen Bulkers sold two handysize bulk carriers to Taylor Maritime. Due to the weak bulk market, Lauritzen Bulkers reduced its operated bulk carrier fleet by 15 ships. 10-July-2019
Copenhagen-based shipowner and operator Lauritzen Bulkers has trimmed 15 bulk carriers in a weak market. Lauritzen Bulkers decreased the number of controlled bulk carriers down to 68 from 83. Handysize bulk carrier market was weak in Q1 2019. According to Lauritzen Bulkers, the US-China trade war and problems in Brazilian iron ore exports negatively impacted dry cargo demand with larger freight rate declines for bulk carriers of all sizes. In Q1 2019, Lauritzen Bulkers reported a net loss of $16.9 million. Danish shipowner and operator J Lauritzen reported a total assets of $642 million. Besides bulk carriers, currently J Lauritzen operates 31 gas carriers. 2-June-2019
Copenhagen based shipowners and operator J Lauritzen Bulkers is optimistic about further dry cargo market improvements despite uncertainties related to tariffs and trade friction between the USA and China. Danish shipowner and operator J Lauritzen extended 5 handysize dry bulk carriers time charters and chartered in 3 handy dry bulk carriers on medium-term deals. Danish shipowner and operator J Lauritzen is aiming to end bulker losses in 2019. J Lauritzen returned 3 loss-making handy bulk carriers to their owners at the end of contracts. J Lauritzen CEO Mads P Zacho mentioned that J Lauritzen replaced expensive time-chartered tonnage with attractively priced dry bulk carries improving J Lauritzen’s competitive position in Q2 2018. J Lauritzen reported an operating profit of $1 million for Q2 2018 overturned a loss of $6 million in Q2 2017. 19-August-2018
Danish shipowner and operator J Lauritzen’s main shareholder injecting $80 million in order to meet a bond payment late 2017. CEO Mads Peter Zacho mentioned that $80 million will significantly strengthen J Lauritzen’s balance sheet and reduce financing costs. Danish shipowner and operator J Lauritzen also pushed back loans that are maturing to due dates in 2021. J Lauritzen total debts are $250 million. 11-April-2017