Nova Marine Carriers, Aug. Bolten form bulker joint venture

Swiss ship operator Nova Marine Carriers and Hamburg-based Aug. Bolten, one of the oldest German shipping companies, have decided to join forces to own and manage Handysize drybulk vessels.

Specifically, the duo will focus on joined asset management, commercial and pool operations as well as ship management.

The partners also plan joined technical and crew management through Lydiamar, part of Bolten, with its head office in Athens, Greece.

As informed, the new company will be jointly managed by Antonello Romeo, director of Nova Marine Carriers S.A., and Gregory de Ruiter, managing director of Aug. Bolten Wm. Miller’s Nachfolger (Gmbh & Co.) KG.

“This year’s upswing in the bulk market fuelled this opportunity to establish an asset joint venture. We are positive about the possibilities to jointly grow our asset base and substantially strengthen our pool operations,” Gerhard Binder, principal of Aug. Bolten, commented.

“In recent years, Nova has invested heavily in the handysize sector and this deal signifies another important milestone in our development. It also offers us a possibility to enhance our geographical presence and further develop all our capabilities,” Vincenzo Romeo, CEO of Nova Marine Carriers S.A., said.