Japanese Marubeni and Norwegian Torvald Klaveness has after three successful years as joint partners of Baumarine, the world’s largest Panamax Pool, now revealed the signing of a new agreement to expand the partnership.

The new signed deal sees Marubeni invest in a 25% stake of Klaveness Dry Bulk, thereby underscoring their mutual commitment to innovation through collaboration.

The deal as the companies’ state, includes the operating arm Klaveness Chartering, the Baumarine Pool and Market Manager, a recently commercialized digital offering that empowers freight decision-makers to make better-informed decisions and drive new value for their companies.

The companies informed that the agreement was signed yesterday and same is subject to regulatory clearance, with the closing of the transaction expected to take place in Q3 of 2023.

“Since day one, we have enjoyed a close and mutually beneficial collaboration with Marubeni. I am proud that we can now take the next step and continue our journey together, helping our clients fulfill their purpose and overcome challenges, while driving our innovative and transformative organizations forward,” Michael Jørgensen, EVP and Head of Klaveness Dry Bulk, commented.

Mr. Toru Okazaki, Chief Operating Officer, Aerospace & Ship Division of Marubeni Corporation, added “The Torvald Klaveness group and Klaveness Dry Bulk have delivered significant results, not only for the Marubeni fleet but also for Panamax owners in Baumarine by MaruKlav as a whole. They have consistently demonstrated an innovative approach to securing the best earnings management through, for example, the fixed rate conversion at peak scheme. We see them driving a high level of client focus throughout the activities, something that will only become increasingly important in this dynamic dry bulk shipping industry. We are excited about the road ahead and eager to actively contribute to delivering on our ambitious strategy, transforming not only our joint setup but also the industry.”

Ernst Meyer, Klaveness CEO, emphasizes the significance of this milestone for the Torvald Klaveness group, adding: “Klaveness Dry Bulk is a digitalized shipping company with a focus on win-win solutions for cargo and ship owners, leading to more efficient trades and lower carbon emissions. With Marubeni as a partner, we will boost our positive impact on maritime supply chains and create more value for both companies.”