BW Dry Cargo

Andreas Sohmen-Pao’s BW Group is indeed positioned to potentially delist another one of its companies in Oslo. This follows the parent company’s recent move to launch a mandatory offer for its oil subsidiary, BW Energy, after acquiring a significant shareholding in the company. A recent stock exchange filing disclosed that BW Group purchased 250,000 shares in BW Energy, an oil exploration and production company, for approximately $558,000 on Wednesday. This acquisition has brought BW Group’s ownership in BW Energy to the 40% threshold, a level at which Norwegian regulations require a mandatory takeover offer to be made. Given this development, there is a rising possibility that BW Energy might be the next BW Group company to be delisted from the Oslo stock exchange. This scenario aligns with BW Group’s strategy and its history of similar corporate actions. Andreas Sohmen-Pao’s leadership in these strategic maneuvers highlights the group’s ongoing efforts to consolidate its investments and streamline its portfolio. 30-November-2023

 

Singapore and Copenhagen based diversified shipowner BW Group subsidiary company BW Dry Cargo sold three (3) kamsarmax bulk carriers MV Barley, MV BW Acorn, and MV BW Einkorn for around $42 million en bloc. BW Dry Cargo is led by Christian Bonfils. In May 2020, BW Dry Cargo sold 2010 built supramax bulk carrier 58K DWT MV BW Flax for around $10.5 million. Currently, BW Dry Cargo has a fleet of seven (7) bulk
carriers. Furthermore, BW Dry Cargo has three (3) ultramax new-buildings on order at Oshima Shipbuilding and two (2) kamsarmax new-buildings at Tsuneishi Cebu. 16-July-2020

 

Singapore and Copenhagen based diversified shipowner BW Group subsidiary company BW Dry Cargo was selling 2010 built kamsarmax bulk carrier 83K DWT MV BW Barley for around $15 million to a Scandinavian shipowner. In June 2016, BW Dry Cargo acquired MV BW Barley for around $13 million. BW Dry Cargo was selling 2010 built kamsarmax bulk carrier 83K DWT MV BW Barley for around $15 million with a 2-year charter back to Singapore-headquartered BW Group at $11,000 per day. However, the Scandinavian shipowner abandoned the transaction. BW Dry Cargo sold MV BW Barley on subjects, but unfortunately, the Scandinavian shipowner could not perform the deal. BW Dry Cargo is watching to buy more kamsarmax bulk carriers. In 2016, during the bottom of the market, BW Dry Cargo acquired nine (9) kamsarmax and supramax bulk carriers. Currently, BW Dry Cargo has a fleet of nine (9) bulk carriers. Furthermore, BW Dry Cargo has ordered seven (7) kamsarmax bulk carriers and four (4) ultramax bulk carriers at Japanese shipyards. 23-April-2020

 

Singapore and Copenhagen based diversified shipowner BW Group subsidiary company BW Dry Cargo sold 2013 built kamsarmax bulk carrier 81K DWT MV BW Hazel (ex MV Antonis) to Malta-based Sterling Shipping for a around $22 million. In December 2016, BW Dry Cargo acquired 2013 built kamsarmax bulk carrier 81K DWT MV BW Hazel (ex MV Antonis) for about $16 million. Currently, BW Dry Cargo has a fleet of nine (9) bulk carriers and eleven (11) new-building bulk carrier orders at Japanese shipyards. BW Dry Cargo is led by Christian Bonfils who previously established Nordic Bulk Carriers (NBC). In September 2017, BW Dry Cargo acquired 2004 built capesize bulk carrier 171K DWT MV Berge Weisshorn (ex MV Chambesy) for around $15 million. In September 2018, BW Dry Cargo acquired 2010 built capesize bulk carrier 180K DWT MV Berge Nyangani (ex MV Tenshu Maru) for around $30 million. In 2003, BW Dry Cargo’s capesize fleet was acquired by Berge Bulk. Berge Bulk is led by James Marshall, a brother-in-law to BW Group chairman Andreas Sohmen-Pao. 16-October-2019

 

BW Group dry bulk arm BW Dry Cargo bought two (2) kamsarmax dry bulk carriers 2010 built 81K MV BW Einkorn (Ex MV Mighty Sky) for $14 million and 2014 built 82K MV BW Canola (Ex MV United Legacy) for $17 million. BW Group dry bulk arm BW Dry Cargo fleet has also MV BW Acom and MV BW Barley. 5-September-2016

 

BW Dry Cargo will be headed by Nordic Bulk Carriers founder Christian Bonfils to enter Dry Bulk Carriers market. Fleet will initially be ultramax and kamsarmax ships. BW Group mostly in the gas sector, has not previously been involved with dry cargo but has a diversified fleet of more than 100 ships. BW Dry Cargo will focus on bulkers between 50K DWT and 90K DWT. 21-March-2016