The two owners of the joint-venture Star Shipping, Westfal Larsen’s Masterbulk and Griger Group, has agreed on dividing the company into two new entities. The decision is taken in a strong market and after years of different views on the future strategy for Star Shipping that operates 40 open hatch bulk carriers, mainly involved on forest product transports, and some 20 conventional handymax bulk carriers.
Master Bulk takes over the Star Shipping headquarters in Bergen and will operate its part of the fleet under the name Westfal-Larsen Shipping, while Grieg maintains the name Star Shipping, its logo and flag.
The open-hatch fleet will be divided geographically based on the existing trading routes, and Grieg takes over the conventional bulk carrier fleet.
Master Bulk takes over the Star Shipping headquarters in Bergen and will operate its part of the fleet under the name Westfal-Larsen Shipping, while Grieg maintains the name Star Shipping, its logo and flag.
The open-hatch fleet will be divided geographically based on the existing trading routes, and Grieg takes over the conventional bulk carrier fleet.