Reuben Brothers continues order spree

Geneva-based trader Reuben Brothers has clinched more newbuildings in Asia as part of plans to boost its fleet to 50 bulkers within two years.

The company, controlled by billionaire siblings David and Simon Reuben, said it has picked Japan Marine United (JMU) for its latest kamsarmax order, after kicking off its move into shipping with an order for five ships at Sungdong in Korea earlier this year.

Spokesman Charles Stewart-Smith told TradeWinds a deal has been signed in Athens for two vessels due for delivery in early 2016.

The Sungdong order had originally been for four 82,000-dwt vessels and two options, but this is now five firm bulkers with no options remaining.

The Reuben fleet is now approaching 20 dry cargo carriers, including newbuildings and managed units.

The plan is to boost this to 50 in the coming two years through a mix of new orders and partnerships.

It said the expansion reflects its confidence in the market.

The investments are being made through its RB Shipping arm, but technical and commercial management will be carried out through a recently created joint venture with British Marine, known as RB British Marine.

“All the ships have been commissioned with the highest environmental specification, making them state of the art for the future of the shipping sector,” it said.