Cooperation will in the short term allow better use of the two companies’ resources, while in the long term can lead to a full merger of the two companies, the companies wrote in a released statement.

“Despite unstable markets during several years, it is still the German shipbuilding industry which controls the majority of MPP vessels. The German Industries is nearly a closed market, so for a Danish operator it is essential to have a close partner who is inside the market,” says Anders Poulsen, CEO of J. Poulsen.

“I have personally known the founders of HBCS for decades, making it a natural step for us,” says Anders Poulsen.

HBC Group - with offices in Hamburg and Singapore - is a global provider of ocean transportation of bulk goods.

Hamburg Bulk Carriers was founded in 1999 has contracts worth 4-6 million tons of bulk cargo per year. The Company has typically 15-20 own ships plus ships on T/C. In addition, there are commercial and technical operations from additional ships.

“HBC has no particular experience in project cargo,” says Jens von Husen, co-founder and CEO of HBC.

“But through numerous interviews it has become clear that the MPP and the bulk market are intertwined. Given J. Poulsen’s strong presence in the market, we are very excited about the agreement,” says Jens von Husen.