Sterling Shipping

Under the adept leadership of Christopher Fjeld, Malta-based shipowner and operator Sterling Shipping has graciously embraced James Lightbourn as a distinguished partner and esteemed CFO (chief financial officer). In his recent endeavors, James Lightbourn has lent his expertise to orchestrate capital augmentations and devise strategic pursuits during his tenure as an investment banker at Arctic Securities. In this prestigious position, James Lightbourn collaborated intimately with several transportation conglomerates, notably Malta-based shipowner and operator Sterling Shipping. Transitioning to this novel role, James Lightbourn will be pivotal in fortifying Sterling Shipping’s fiscal foundation, amplifying its naval ensemble, and broadening its horizon into multifarious maritime sectors. Currently, the Malta-based shipowner and operator Sterling Shipping boasts possession of a quartet of kamsarmax bulk carriers. “From Sterling Shipping’s inception, James Lightbourn has been instrumental, offering unwavering support. It’s unequivocally evident that there exists no other individual more suited to join forces with and elevate our esteemed establishment,” eloquently expressed Sterling Shipping CEO Christopher Fjeld. 11-September-2023


Malta-based shipowner and operator Sterling Shipping has acquired a kamsarmax bulk carrier from BW Dry Cargo. With a keen penchant for further bulker acquisitions due to the prevailing modest prices, Sterling Shipping, an infrequent entrant to the Norwegian maritime realm, has embarked on its maiden bulk carrier acquisition: a 2013 kamsarmax bulk carrier 81K DWT MV Sterling Svea (ex MV BW Hazel) from BW Dry Cargo. CEO Christopher Fjeld-led shipowner and operator Sterling Shipping now actively surveying the market for additional purchases. The transaction was finalized this past October, though the identity of the acquirer, Sterling Shipping, has only recently surfaced. The enterprise is steered by two 32-year-old Norwegians, Christopher Fjeld and Markus Reitan, both residing in Malta. Christopher Fjeld affirmed that the kamsarmax bulk carrier constructed by SPP Shipbuilding, 2013 kamsarmax bulk carrier 81K DWT MV Sterling Svea (ex MV BW Hazel), exchanged hands for $21 million. The investment seemed alluring to Sterling Shipping CEO Christopher Fjeld as the MV Sterling Svea (ex MV BW Hazel had freshly completed a survey and circumvented a potential dry-docking expense, potentially amounting to $2 million. Malta-based shipowner and operator Sterling Shipping bears no affiliation with the London-based shipbroker, Sterling Shipping Services. MV Sterling Svea (ex MV BW Hazel) has been chartered back to BW Dry Cargo for a tenure extending a minimum of 24 months; the rate, however, remains confidential. Subsequently, BW Dry Cargo has sub-chartered the MV Sterling Svea (ex MV BW Hazel) to Glencore, which has employed the ship for grain transport. The transaction and the emergent entity remain enigmatic to shipbrokers stationed in Oslo. The technical management of MV Sterling Svea (ex MV BW Hazel) is overseen by the OSM group. Christopher Fjeld, the CEO of Sterling Shipping, articulated his contentment with the kamsarmax sector and conveyed the Sterling Shipping’s aspiration to carve its niche as an agile maritime enterprise, focusing on bulk carriers aged between three to ten years, especially considering the current subdued asset prices that promise lucrative returns. The procurement of such assets will be orchestrated through a blend of equity and borrowed capital. While both partners, Christopher Fjeld and Markus Reitan, are neophytes in the maritime domain, their previous ventures spanned real estate and industrial undertakings, predominantly in Sweden. Their recent years have seen them establish their base in Malta. Elucidating this relocation, Christopher Fjeld opined that Malta proffers a more conducive environment for nascent businesses compared to Norway, and highlighted the recent migration trend among Norwegians. Embellishing his maritime inclination, Christopher Fjeld remarked that the allure of shipping courses through his lineage. 28-February-2020