It said the move would build its regional presence and develop its bulker capabilities.
Abu Dhabi-controlled Mubadala Development Company has sold its entire holding in Eships to Oldendorff and will cooperate in the UAE-based joint venture Eships Oldendorff Logistics (EOL).
The precise stakes involved have not been revealed, but Eships said Oldendorff would be taking control of its business.
Both sides want to “pursue long term dry bulk freight contracts.”
EOL
