Western Bulk returns to shipowning alongside three Norwegian partners

Western Bulk has bought a Chinese kamsarmax, marking a return to shipowning for the Euronext Growth in Oslo-listed dry bulk operator.

The company has joined Norwegian partners A/S J. Ludwig Mowinckels Rederi, Premium Maritime Fund 2024 AS managed by NRP Asset Management, and Pactum AS in the purchase of the CSSC Shi Jia Zhuang, which will be renamed Western Egda.

The kamsarmax, built in 2020 in China, has recently completed her five-year special survey.

Western Bulk will hold 22% ownership, and the transaction is expected to close next week.

Under the agreement, Western Bulk will assume responsibility for