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Norvic Shipping expands bulk capacity with new long-term charter

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Dry Bulk,

Dry bulk operator Norvic Shipping has acquired a dry bulk vessel on a long-term period-charter to meet growing global demand for its services.

Norvic Shipping expands bulk capacity with new long-term charter

The deal was signed in Norvic’s New York head office with reputed Japanese shipowner Fujimaru Kaiun, represented by the company’s president Jiro Nishikawa. Norvic was represented by AJ Rahman, Group CEO, and Michael Fenger, COO & Global Head of Chartering.

The new 64 000 dwt Ultramax, to be named Norvic Copenhagen, will transport dry cargo for customers around the world following its delivery from Imabari Shipyard, Japan, in 2Q23.

“Norvic has decided to take newbuilding’s into our fleet of 125 vessels in response to our growing business and to meet our commitment to new environmental regulations, such as the IMO’s Carbon Intensity Indicator (CII),” said Rahman.

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.

“Having rapidly established Norvic Shipping as a leading international dry bulk operator, we’re now focused on deepening our existing capabilities by building our own fleet, providing new services and further extending the company’s global reach,” Rahman added.

Image: AJ Rahman, CEO and founder Norvic Shipping, and Jiro Nishikawa, company president, Fujimaru Kaiun.

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Dry cargo shipping news Dry bulk shipping market Handymax news