Swire Bulk

JP Morgan Asset Management, a leading US investment bank, has reportedly acquired two secondhand vessels from the fleet of Swire Bulk Pte. Ltd., a major shipping company headquartered in Singapore. The transaction was overseen by Andy Dacy, who serves as the managing director and head of global transportation at JP Morgan Asset Management. As part of its ongoing effort to expand its dry bulk portfolio, JP Morgan has added two 40K DWT handysize bulk carriers, the MV Liangchow and MV Lintan (both constructed in 2015), to its assets under the auspices of Global Meridian Holdings, a firm associated with JP Morgan Asset Management. The acquisition cost of these vessels is estimated to be around $20.5 million. 24-March-2024

 

Swire Bulk Pte. Ltd., a prominent shipowner and operator based in Singapore, has successfully sold a duo of bulk carriers for a collective sum of $41 million amidst a favorable Sale and Purchase (S&P) market climate. Sale and Purchase shipbrokers have confirmed the disposition of two handysize sister ships constructed in 2015, named MV Liangchow and MV Lintan, as part of Swire Bulk Pte. Ltd.’s strategic fleet renewal initiative. This initiative is a testament to Swire Bulk Pte. Ltd.’s commitment to maintaining a modern and efficient fleet. Swire Bulk Pte. Ltd., a subsidiary of the Swire Group, known for its global operations and commitment to sustainability and innovation, has proceeded to divest some of its older vessels, aligning with its fleet modernization plan. The sale of the 40K DWT MV Liangchow and MV Lintan, both established in 2015, garnered $20.5 million apiece from a shipowner in the United Kingdom. Swire Bulk Pte. Ltd. has distinguished itself in the maritime industry through its dedication to high operational standards, environmental responsibility, and the deployment of the latest maritime technologies, further emphasizing its position as a leader in global shipping and logistics. 10-March-2024

 

Singapore-based shipowner and operator Swire Bulk Pte. Ltd. is determined to lead the transition and decarbonization efforts in the maritime sector. However, Peter Norborg-led Swire Bulk Pte. Ltd. highlighted a significant challenge: the uncertainty surrounding the selection of an alternative green fuel. While decarbonization presents both challenges and opportunities, the current landscape does not offer a clear green fuel solution for handysize and ultramax bulk carriers. Swire Bulk Pte. Ltd. primarily operates handysize and ultramax bulk carriers. Handysize and ultramax bulk carriers are anticipated to be among the last to undergo the transition. One primary reason is their operational nature; handysize and ultramax bulk carriers traverse globally to various locations. The availability of green fuels in many of these places in the foreseeable future remains uncertain, adding to the complexity of the transition. Swire Shipping is the wholly owned, deep-sea ship-owning and operating arm of John Swire & Sons Limited and is the oldest ship-operating entity of the Swire Group. Swire Shipping was established as The China Navigation Company (CNCo) in 1872. 11-October-2023

 

Singapore-based shipowner and operator Swire Bulk Pte. Ltd. is looking to streamline its fleet. Peter Norborg-led Swire Bulk Pte. Ltd. which currently operates 25 bulk carriers, is reportedly in the process of selling three (3) of its open-hatch bulk carriers for an approximate total of $60 million. JP Morgan is widely speculated to be the leading bidder for these three (3) of its open-hatch bulk carriers. The three (3) of its open-hatch bulk carriers up for sale, built at the Chengxi Shipyard in 2015, are named MV Fengning, MV Funing, and MV Foochow. Interestingly, the selling price is slightly lower than a previous transaction between Singapore-based shipowner and operator Swire Bulk Pte. Ltd. and JP Morgan earlier this year. In March, JP Morgan acquired another set of three (3) bulk carriers from Swire Bulk Pte. Ltd.: the 2014-constructed MV Wulin, MV Erisort, and MV Erradale. Each of these bulk carriers fetched a price that was about $1 million higher than the current trio on offer. Swire Bulk was established in 2012 as the dry bulk trading division of China Navigation (CNCo). Swire Shipping is the wholly owned, deep-sea ship-owning and operating arm of John Swire & Sons Limited and is the oldest ship-operating entity of the Swire Group. Swire Shipping was established as The China Navigation Company (CNCo) in 1872. 2-October-2023

 

After a two-year hiatus, Henrik Sleimann Petersen has rejoined the maritime world in Singapore, affiliating himself with Singapore-based shipowner and operator Swire Bulk Pte. Ltd. Beginning the 1st of September, 2023, Henrik Sleimann Petersen will serve as the Head of Asset Management for Swire Bulk. Moreover, Henrik Sleimann Petersen will grace the executive management committee of Swire Bulk with his esteemed presence. Prior to this, Henrik Sleimann Petersen held a distinguished position as the group director of Ultrabulk Shipping in Dubai. Most recently, Henrik Sleimann Petersen enjoyed a sabbatical, commonly referred to as “gardening leave”, which commenced earlier this year. 1-September-2023

 

Singapore-based shipowner and operator Swire Bulk Pte. Ltd. prepares to close London office. Swire Bulk Pte. Ltd. looks to consolidate the company’s European operations. Swire Bulk Pte. Ltd. is considering the future of the company’s European and Australian headquarters. CEO Peter Norberg-led shipowner and operator Swire Bulk Pte. Ltd. is shutting the company’s London office and driving staff there redundant. Swire Bulk Pte. Ltd. has approximately fourteen chartering employees in London concentrating on handysize and supramax bulk carriers in the Atlantic basin. These operations will be conducted in future from Hamburg and Miami offices. Swire Bulk was established in 2012 as the dry bulk trading division of China Navigation (CNCo). Swire Shipping is the wholly owned, deep-sea ship-owning and operating arm of John Swire & Sons Limited and is the oldest ship-operating entity of the Swire Group. Swire Shipping was established as The China Navigation Company (CNCo) in 1872. 25-May-2023

 

Singapore-based shipowner and operator Swire Bulk Pte. Ltd. sold 2014 built handysize bulk carrier 39K DWT MV Erisort, 2014 built handysize bulk carrier 39K DWT MV Erradale, and 2014 built handysize bulk carrier 39K DWT MV Wulin to JP Morgan’s Asset Management’s Global Transport Group. CEO Peter Norberg-led shipowner and operator Swire Bulk Pte. Ltd. will be paid around $60 million from the sale of a trio of handysize bulk carriers. In 2021, China Navigation (CNCo) rebranded the company as Swire Shipping. Swire Bulk was established in 2012 as the dry bulk trading division of China Navigation (CNCo). Swire Shipping is the wholly owned, deep-sea ship-owning and operating arm of John Swire & Sons Limited and is the oldest ship-operating entity of the Swire Group. Swire Shipping was established as The China Navigation Company (CNCo) in 1872 in Shanghai and commenced its operations trading on the Yangtze River. 30-March-2023

 

Singapore-based shipowner and operator China Navigation (CNCo) rebrands itself as Swire Shipping. Swire Projects is the project division of Swire Shipping. Swire Projects contributes professional shipping services to the renewable, energy, and infrastructure areas. Recently, Swire Projects chartered six (6) Multipurpose Heavy Lift ships from Nordic Projects & Finance. Swire Projects will get the delivery of six (6) Multipurpose Heavy Lift ships in December. Swire Projects will use the six (6) Multipurpose Heavy Lift ships to expand the company’s services in the project division. German Nordic Projects & Finance is committed to classifying financing possibilities and attempting pro­ject man­age­­ment and fin­an­­cing solu­­tions. 21-November-2021

 

Singapore-based shipowner and operator China Navigation (CNCo) rebrands itself as Swire Shipping. China Navigation (CNCo) is one of the oldest shipping companies in Asia. In 1872, Swire Shipping was established by John Swire & Sons. James Woodrow-led Swire Shipping has been internationally acknowledged as the operating name of the business. Consequently, China Navigation (CNCo) will use Swire Shipping as the principal company name. China Navigation (CNCo) name change is presumed to not affect the current nature and structure of the company. China Navigation (CNCo) name will remain as the holding company in the United Kingdom. Swire Shipping will proceed to focus on the Pacific market. 14-October-2021

 

Clipper Group ex-CEO Peter Norborg will be Swire Bulk’s CEO when the Swire Bulk completes a reverse merge from parent China Navigation Co (CNCo) in January 2021. Currently, Singapore-based shipowner and operator China Navigation’s (CNCo) sister company Swire Bulk is managed by Rob Aarvold. Peter Norborg is going to work with Rob Aarvold. Sam Swire, chairman of Singapore-based shipowner and operator China Navigation’s (CNCo), expects Rob Aarvold to expand the dry bulk business of the Swire Bulk. China Navigation’s (CNCo) statement highlighted Peter Norborg’s remarkable CV as a top-level administrator in shipping corporations like Dampskibsselskabet Norden A/S, Gearbulk, and J Lauritzen. According to China Navigation’s (CNCo) chairman Sam Swire, Peter Norborg will bring outstanding administration experience. In January 2021, China Navigation’s (CNCo) will demerge and organize Swire Bulk as a stand-alone company. China Navigation’s (CNCo) will split its dry bulk shipping activities from its liner shipping and ship management. Singapore-based was founded in 2012. In 2019, China Navigation’s (CNCo) acquired Hamburg Sud Tramp and expanded its operated fleet up to 150 bulk carriers. Since 2012, Swire Bulk has expanded swiftly. Singapore-based shipowner and operator Swire Bulk emphasized that the company would be after splitting from China Navigation (CNCo). 30-September-2020

 

Singapore-based shipowner and operator China Navigation (CNCo) shipped 50K tons of raw sugar from Brazil to Malaysia as the world’s first end-to-end environmentally sustainable sugar cargo. China Navigation (CNCo) cooperated with VIVE for green sugar shipments. Swire Bulk was the dry bulk arm of China Navigation (CNCo), but Swire Bulk and Navigation (CNCo) separated the companies. In sugar shipping history, this is the first time sugar produced under the VIVE sustainability programme has been carried by China Navigation (CNCo) which is verified and delivered to a VIVE-verified end user. VIVE began to reach long-term partners like China Navigation (CNCo) to ship and deliver a definitely sustainable and accredited supply chain from field to factory. Furthermore, China Navigation (CNCo) was examining to enhance gender diversity with the first female cadets. Swire Bulk and China Navigation (CNCo) was accredited for standard operating procedures by VIVE, plus from welfare to safety to sustainability. Swire Bulk and China Navigation (CNCo) demonstrated transparency and proactive management. Swire Bulk and China Navigation (CNCo) cooperated with all stakeholders in the commodities chain, including trade financiers. According to Swire Bulk and China Navigation (CNCo), other dry bulk operators should get involved with sustainability leadership such as VIVE. 19-August-2020

 

Singapore-based shipowner and operator China Navigation (CNCo) sold 1994 built multipurpose bulk carrier MPP 23K DWT MV Kwangtun for $370 per ldt (lightweight displacement tonnage) for guaranteed green recycling. 2-December-2019

 

Singapore-based shipowner and operator China Navigation (CNCo) has signed a sale and leaseback deal with CDB Leasing for two modern handysize bulk carriers 38K DWT MV Nanning and 40K DWT MV Ninghai. CDB Leasing is paying around $19 million each vessel with a 3-year bareboat charter back to China Navigation (CNCo). Singapore-based China Navigation (CNCo) is planning to acquire Hamburg Sud’s bulk shipping business. Singapore-based shipowner and operator China Navigation (CNCo) has a fleet of 27 bulk carriers. 22-January-2019

 

China Navigation Company (CNCo) acquired Hamburg Sud’s Bulk Shipping business. Hamburg Sud’s bulk shipping business includes Rudolf A. Oetker (RAO), Furness Withy Chartering London, and Alianca Navegacao (Aliança Bulk) Rio de Janeiro. The deal does not include Rudolf A. Oetker Tankers (RAO). Hamburg Sud’s Bulk Shipping business acquisition would help China Navigation Company (CNCo) to develop strategic expansion into the supramax market. Hamburg Sud’s Bulk Shipping chartered tonnage comprises approximately 45 handysize up to panamax dry bulk carriers. China Navigation Company (CNCo) is part of the Swire Group. Swire Group owns and operates about 135 ships. In 2017, AP Moller-Maersk acquired Hamburg Sud’s container fleet from the Oetker family. 21-January-2019

 

Singapore-based shipowner and operator China Navigation (CNCo) bought 2016 built 38K DWT handy bulk carrier MV Sulawesi for around $15 million. The price tag of MV Sulawesi is in line with the sisterships 2016 built MV Cumbria, MV Galicia, and MV Venezia. 9-December-2016