Lomar takes bulker investment to US$127 million inside a year

The vessel’s entry into commercial operations represents a total investment of over US$127 million in dry bulk vessels in the past 12 month period.

Lomar’s commitment to build its fleet of bulk carriers, which now number 14 in total, comes after it raised more than US$2 billion from the sale of virtually all of its containership fleet.

Lomar CEO Nicholas Georgiou said: “Lomar has largely divested from container shipping during a period of record-breaking markets and is currently re-investing in the dry bulk sector where we see considerable opportunities.”

Lomar’s latest addition to its fleet of bulkers is a 57 016 DWT vessel that was formerly named Hai Yang Zhi Hua. She was purchased from a company in China and originally built at the China Shipping Jiangsu shipyard in September 2011.

The Ebury Trader followed the purchase and delivery to Lomar in the 2H23 of the Manila Trader, Rome Trader, Athens Trader,Thames Trader, Dart Trader and Avon Trader. They followed on from the arrival of the Lima Trader and Oslo Trader in May and April of 2023.

The nine additions to the Lomar fleet of dry bulk vessels have added over 600 000 DWT capacity within the last 12 months.

In October 2022 Lomar completed the acquisition of the Bremen-based Carl Büttner Holding GmbH & Co. KG, at an enterprise value of close to US$160 million, strengthening its interests in the chemical/product tanker sector.

Mr Georgiou added: “In 2022 Lomar invested heavily into the tanker fleet sector with the acquisition of Carl Büttner, and has since integrated the business and its people into Lomar. In these past 12 months, Lomar has strengthened its fleet of bulk carriers, and continues to identify other areas in which to invest as we move forward.”

Read the article online at: https://www.drybulkmagazine.com/shipping/07052024/lomar-takes-bulker-investment-to-us127-million-inside-a-year/