China Navigation (CNCo) intends to separate out its shipping activities and fleet management business. This idea was announced on 8 July. CNCo established Swire Bulk in 2012, today the company operates a fleet of up to 150 vessels predominantly in the handysize and supra/ultramax sectors.
“Swire Bulk has built an experienced and high-performing team with over 100 employees across nine offices around the world with a strong customer centric culture and an excellent reputation towards innovative freight solutions and its ability to build high-valued partnerships with tonnage providers, trading houses and our core industrial client base,” claimed Swire Bulk General Manager Rob Aarvold.
The separation is scheduled for January 1, 2021. CNCo and Swire Bulk will continue to cooperate and share certain service activities, for example, technical management services of their ships.