The combined bulker fleets of Grieg Star and Gearbulk will control 36% of the overall open hatch/gantry market, according to VesselsValue.

Senior analyst William Bennett said the market share in terms of deadweight puts the new operation in a “very strong position” in the niche sector.

The two companies announced an operational tie-up on Wednesday, giving them more than 130 open hatch, semi-open hatch and conventional ships.

Gearbulk