Geneva-based shipowner and operator SwissMarine sold two (2) capesize bulk carriers. 2016 Japanese built 181K DWT MV Corsier and 2016 Japanese built 181K DWT MV Celigny were sold around $42.5 million each to JP Morgan Global Maritime. Last month, CEO Peter Weernink took back control of SwissMarine. According to market veterans, MV Corsier and MV Celigny is worth around $41.4 million each. In recent years, Switzerland based shipowner and operator SwissMarine has been scaling down its owned fleet. In 2013, MV Corsier and MV Celigny were ordered for $50 million each. The latest bulker offloads does not mean that SwissMarine is disappearing from the large bulk carrier segment. Cargill trained Dutchman CEO Peter Weernink formed SwissMarine in 2001.

SwissMarine has been one of the dominating players in the capesize market. In April 2018, Peter Weernink left SwissMarine and established Singapore Marine. SwissMarine’s shareholders led by Glencore were unable to commit to growth. Peter Weernink led Singapore Marine is now taking over SwissMarine for an undisclosed price. Peter Weernink is aiming to cooperate with a group of committed new investors who wants to acquire around 150 bulk carriers. Currently, new investors are buying the shares of Peter Weernink’s co-shareholders in SwissMarine, including Glencore, steel trader MUR, and Greek shipowner Victor Restis. Norwegian shipping tycoon John Fredriksen’s shipping arm Golden Ocean is one of the key investors working with Peter Weernink.


On 15 March 2018 Switzerland based freight operator SwissMarine chartered in 2004 built capesize dry bulk carrier 175K DWT MV KWK Providence from Tai Chong Cheang (TCC) for $17,250 per day for 2 years. MV KWK Providence chartering will start in April and will be delivered at Qingdao, China. MV KWK Providence $17,250 per day charter rate is softer than the $20,000 per day for 180K DWT MV Navios Lumen that was chartered in by SwissMarine last week for a year. This week, SwissMarine also chartered in 2005 built capesize dry bulk carrier 171K DWT MV Star Lady at 93% of BCI for a year period. According to forwards market data from the Baltic Exchange, one-year freight markets are currently priced around $17,125 per day.


Geneva-based ship operator SwissMarine chartered in capesize dry bulk carrier 2011 built 175K DWT M/V Charlotte Selmer for a year at $13,500 per day.


Peter Weernink led shipowner and operator SwissMarine sold the oldest capesize bulker 1997 built 172K DWT M/V Confignon for demolition to Pakistani shipbreakers for $7.3 million. M/V Confignon was bought by SwissMarine as M/V Orchid River for $12.5 million in 2012. M/V Confignon was due for a special survey in 2017.


SwissMarine bought 2011 built panamax bulk carrier 82K DWT MV United Fortune for about $15 million. Main lenders of Japanese shipowner United Ocean are attempting to recover around one billion dollars in funds from the company, which filed for bankruptcy at the Tokyo district court in January 2016. Largest creditors of Japanese shipowner United Ocean are: Resona Bank, Tokyo Mitsubishi UFJ and Mizuho Bank. The collapse of the Japanese shipowner United Ocean was followed by allegations that charter parties had been misrepresented to secure funding from the bankruptcy filing revealed $1.23 billion of debts.