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