Singapore-based dry bulk specialist Centurion Bulk has bought the Danish handysize operator Integrity Bulk, with the aim of expanding further its activities in the handysize segment.

It is hoped that the takeover will be effective from 31 July.

Integrity Bulk operates within the handy- and supra size segments whilst Centurion Bulk specialises in chartering and operations within the handy to ultramax markets.

The Integrity Bulk website currently lists a fleet of 12 vessels built from 2012 through this year, ranging from 28,227 dwt to 39,583 dwt.

“For some time, we have expanded our activities in the handysize segment, and we are very pleased to have reached this agreement with Integrity Bulk,” said the management of Centurion Bulk.

The top management of Centurion Bulk expressed gratitude to Integrity Bulk’s management “for their open and honest dialogue,” as they said.  

Singapore headquartered Centurion Bulk was established in 2013 and charters and operates over 80 vessels worldwide, spanning the handysize to ultramax markets.

At the beginning of the year the operator confirmed that the ship Centurion Goryo joined the long-term fleet of Centurion Bulk.

She is a 40,000 dwt handysize constructed by Hakodate shipyard.

Per Colberg, chief executive of Integrity Bulk, said: “We are glad to have reached a sales agreement with Centurion Bulk. We would also like to thank all our key investors and counterparties for the trust shown to Integrity Bulk over the years.”