Dry bulk operator Norvic Shipping has acquired a dry bulk vessel on a long-term period-charter to meet growing global demand for the company’s services, according to the company's release. The deal was signed in Norvic’s New York head office with reputed Japanese shipowner Fujimaru Kaiun represented by the company’s president Mr. Jiro Nishikawa. Norvic was represented by AJ Rahman, Group CEO, and Michael Fenger, COO & Global Head of Chartering.
The new 64,000dwt Ultramax, to be named Norvic Copenhagen, will transport dry cargo for customers around the world following its delivery from Imabari Shipyard, Japan in Q2 2023.
Chartering more newbuilds from Japan on five- to eight-year terms is part of Norvic’s plan. The company also aims to expand its fleet and diversify its service offering in the coming years with the expected delivery of two additional Japanese handymax vessels on long-term charters by the end of 2023.
Norvic Shipping recently secured a $42.5 million working capital credit facility to finance its growing physical presence in key markets.