World News
United Overseas Group Acquires Dry Bulk Shipping Assets of Norvic Shipping
Greece-based United Overseas Group has acquired dry bulk shipping assets, including bulk carriers of Norvic Shipping.
The transaction includes nine dry bulk vessels, three currently in operation and six newbuilds scheduled for delivery in 2026 and 2027, Antonios Vrondissis, managing director of United Overseas Management, said in a LinkedIn post on Friday.
It also includes the integration of Norvic’s commercial team, strengthening United Overseas Trading’s operational and chartering capabilities.
By combining fleet additions with commercial expertise, the acquisition is expected to strengthen the platform’s operational and chartering capabilities as it looks to grow its presence in the dry bulk market.
United Overseas Trading operates globally with offices in Athens, Copenhagen, Singapore, Dubai, Mumbai, São Paulo and Tokyo. The company said the expanded fleet and team position it for further growth in the sector.
Financial terms of the transaction were not disclosed.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 489.50 | 0.50 | 674.00 | 2.50 |
| Rotterdam | 450.50 | 7.00 | 694.50 | 1.50 |
| Houston | 457.50 | 0.00 | 657.00 | 2.50 |
| Fujairah | 471.00 | 8.50 | 748.50 | 7.00 |
| Global 20 Ports Average | 508.50 | 1.00 | 769.50 | 2.00 |
| Global 4 Ports Average | 467.00 | 4.00 | 693.50 | 1.00 |
| Global Average Bunker Price | 539.50 | 1.00 | 799.50 | 3.50 |
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