Asia Maritime Pacific (AMP) and Fenwick Shipping Services have merged their operations.
Hong Kong-headquartered AMP has a fleet of over 40 dry bulk vessels and a network of nine offices worldwide. Fenwick’s four handysize vessels will join AMP’s fleet trading worldwide with a special focus on Asia and Oceania.
Technical management of the fleet will be performed by AMP’s in-house team.
Fenwick’s management, including director Antony Marden, will remain involved with AMP, while its Hong Kong offices will be amalgamated into AMP’s headquarters.
Mark Young, ceo of AMP, said: “As one of the first consolidations in the geared dry bulk sector, we believe this transaction is an important step in our goal to grow AMP into a major handysize player. The combined company will look to do more similar transactions in this fragmented market space”.
According to AMP, its handysize and 6,600 dwt vessels are capable of handling a diverse range of cargoes including, timbers, project cargo, machinery, steels and fertilisers.