January 7 - Japanese shipping line Mitsui OSK (MOL) has increased its stake in Gearbulk Holding Limited (Gearbulk) from 40 to 49 percent.

Gearbulk claims to be the world's leading open hatch shipping company, with a fleet in service of 64 vessels and a renewal programme consisting of about 20 vessels on order. The company is owned by the Jebsen family and MOL.

MOL commented that the increased shareholding of MOL reflects the long standing partner relationship between the shareholders. It also demonstrates the firm future commitment of MOL to Gearbulk.

Gearbulk says that its large fleet of open hatch box shaped vessels are specifically designed and equipped for the efficient and safe transportation of project cargoes.