Mitsui O.S.K. Lines (MOL) has solidified its position as a global shipping leader by acquiring a 72% of the shares of its equity method affiliate Gearbulk Holding AG, according to the company's release.
This strategic move, finalized on January 20th, 2025, makes Gearbulk a consolidated subsidiary of MOL.
MOL has had a 34-year partnership with Gearbulk since its equity participation in 1991. With the consolidation, the MOL Group's fleet of dry bulk carriers will total 338 vessels, making it the world-leading dry bulk fleet. Gearbulk's open hatch fleet, the largest in the world, will account for about 60 of those vessels, roughly 20%.