Swire Bulk to become standalone business

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The China Navigation Company ("CNCo") is to separate out its dry bulk shipping activities from its liner shipping and fleet management business, with Swire Bulk being established as a standalone company headquartered in Singapore. The target date for the separation is 1st January 2021; John Swire & Sons Limited will continue to be Swire Bulk's parent company.
CNCo established Swire Bulk as a division of the company in 2012 and has grown the business rapidly over the last eight years. Following the acquisition of Hamburg Sud Tramp from Maersk Line in 2019, Swire Bulk has become the largest part of CNCo's business, operating a fleet of up to 150 owned and chartered vessels, predominantly in the Handysize and Supra/ Ultramax sectors. Swire Bulk has a further eight new-built Handysize Oshima 37,000dwt vessels set to join the fleet from the fourth quarter of this year, and firm commitments from charterers out to 2038.

"Setting up Swire Bulk as a standalone business will give it the independence required for its continued development as a high-quality global dry bulk operator," said Sam Swire, Chairman of CNCo. "Market leadership in terms of the safety and quality of our operation and our sustainability commitments and initiatives with our partners will remain central to Swire Bulk's business strategy".
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Swire Bulk to become standalone business

Swire Bulk to become standalone business

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