Cyprus-based Gravelor Shipping Ltd, an affiliate of the White Lake Shipping Group (W.L Shipping Ltd.), succeeds in purchasing four (4) bulk carriers from sanctioned Russian state finance company GTLK. Limassol-based Gravelor Shipping Ltd won approval in Malta and Ireland for an agreement that expands Gravelor Shipping Ltd’s owned fleet. Gravelor Shipping Ltd, a sister company of the White Lake Shipping Group (W.L Shipping Ltd.), has become the latest shipowner to acquire bulk carriers out of leases held by sanctioned Russian state finance company GTLK. Gravelor Shipping Ltd., part of the White Lake Shipping Group (W.L Shipping Ltd.), was in the process of commencing purchase options contained in bareboat charter agreements for four (4) handysize bulkers when the war in Ukraine started. sanctioned Russian state finance company GTLK was ultimately specified among the Russian entities sanctioned by the EU (European Union) and the US. Belgium-based WL Management BV manages the bulk carriers of Gravelor Shipping Ltd which is an affiliate of the White Lake Shipping Group (W.L Shipping Ltd.) 10-September-2022
CarVal Investors owns 49.6% of Monaco-based Oslo OTC (Over The Counter) listed shipowner and operator GoodBulk Ltd. Furthermore, CarVal Investors sold 13 capesize bulk carriers to GoodBulk Ltd in 2017. Recently, CarVal Investors sold 2017 built handysize bulk carrier 37K DWT MV Alpine and 2017 built handysize bulk carrier 37K DWT MV Summit. CarVal Investors sold MV Alpine and MV Summit to White Lake Shipping Group (W.L Shipping Ltd.) for around $14.5 million each. Management BV manages the bulk carriers of Gravelor Shipping Ltd which is an affiliate of the White Lake Shipping Group (W.L Shipping Ltd.). In February 2019, CarVal Investors sold 2016 built handysize bulk carrier 35K DWT MV North Star and 2016 built handysize bulk carrier 35K DWT MV Grand Marais. CarVal Investors sold MV Merel D (ex MV North Star) and MV Maryam D (ex MV Grand Marais) to Alliance Maritime for around $32.5 million en bloc. In 2013, CarVal Investors commenced ship purchases as a private-equity fund. Furthermore, CarVal Investors primarily investing in other shipping companies since 2013. In May 2019, Besides 49.6% of GoodBulk Ltd, CarVal Investors holds a 6.5% stake in Diamond S Shipping and 0.5% of Golden Ocean Group. In October 2016, CarVal Investors obtained a 16.7% stake in Hunter Maritime Acquisition. 21-May-2019