January 3 - Gearbulk and Grieg Star have confirmed that their new joint venture company will be named G2 Ocean.

HLPFI reported in October 2016 that Gearbulk and Grieg Star intended to enter into a joint venture to combine their resources and expertise, as well as their combined fleet of open hatch, semi open hatch and conventional bulk vessels.

G2 Ocean will be jointly controlled by Gearbulk and Grieg Star, with Gearbulk owning 65 percent and Grieg Star owning 35 percent.

The total number of vessels operated by the dry bulk shipping company will be over 130.

Headquartered in Bergen, Norway, G2 Ocean will be headed up by Rune Birkeland, who has been appointed ceo of the venture, and Arthur English, who takes on the position of chief commercial officer.