TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL) has successfully completed the acquisition of a controlling 72% stake in Gearbulk Holding AG, a Switzerland-based dry bulk shipping company. The deal, finalized on January 20, 2025, follows the green light from competition law authorities and marks a significant milestone in MOL’s strategic expansion.
With this acquisition, MOL transforms Gearbulk into a consolidated subsidiary, reinforcing its presence in the dry bulk shipping sector. The move cements MOL’s position as the world’s leading dry bulk fleet operator, with a total of 338 vessels under its belt. Among these, Gearbulk’s fleet of 60 open hatch carriers—the largest of its kind globally—accounts for approximately 20% of MOL’s expanded fleet.
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MOL and Gearbulk have enjoyed a longstanding relationship dating back to 1991 when MOL first acquired an equity stake in the company. Over the past 34 years, the two firms have worked closely to develop specialized transportation services for semi-finished products such as pulp, cementing Gearbulk’s reputation in the market. This latest development signals a deeper commitment to capitalizing on their combined strengths to drive growth and innovation.
The consolidation is expected to bring significant strategic advantages to MOL. By integrating Gearbulk’s extensive global sales network and specialized operations, MOL aims to enhance its ability to adapt to shifting supply chains and trade patterns. The acquisition will enable the company to tap into new business opportunities and optimize ship allocation, creating operational synergies that strengthen its competitive edge.
MOL anticipates that the expanded capabilities will lead to better service offerings, greater cost efficiencies, and an enlarged customer base. The company is keen on leveraging Gearbulk’s specialized expertise in open hatch shipping to distinguish itself further in the highly competitive dry bulk market.
Looking ahead, MOL plans to accelerate its growth trajectory and enhance corporate value by deploying and reinforcing the management resources of the entire group. The acquisition underscores MOL’s strategic focus on sustainable expansion, positioning it to navigate evolving market demands while maintaining a solid financial outlook.
The acquisition aligns with MOL’s broader vision of solidifying its foothold in key logistics sectors and delivering value-driven services to its global clientele. The company remains committed to optimizing its fleet operations and reinforcing its role as a leader in the maritime transportation industry.
