EMEA News
J Poulsen Forms Alliance With HBC
Denmark's J Poulsen Shipping and Germany’s HBC Hamburg Bulk Carriers have formed an alliance which may be the prelude to a full merger, Tradewinds reports.
The present deal will give the two companies the opportunity to "jointly execute current opportunities on a short-term basis for both market and fleet activities," according to a statement.
“For a Danish operator it is therefore of fundamental importance to have a reliable and long-term partner who is an insider of the German maritime industry,” said Anders Poulsen, CEO of J Poulsen, which is involved in multi-purpose (MPP) shipping.
“Having known the HBC founders personally for decades, this is a natural step for us.”
HBC, which typically deals in dry cargo, has not dealt much in project cargo according to Managing Director Jens von Husen.
"Through numerous industry talks it has become clear that the MPP and bulk markets are intertwined, he said.
“Considering the strong market presence of the Poulsen corporation we are excited about this development.”
The partnership is one of a number of shipping alliances that have formed in light of plummeting freight rates and difficult market conditions.
This year has also seen the formation of two mega-alliances, with Maersk Line and Mediterranean Shipping Co. joining 2M, and CMA CGM, China Shipping Container Lines Co. and United Arab Shipping Co. joining Ocean Three.
