Bulker owner and operator Cetus Maritime is expanding again through a combination with Chilean operator Nachipa.

The Hong Kong-based company said the merger means it is continuing to lead industry consolidation.

The new entity will retain the Cetus Maritime name.

Cetus has not said how many ships it is adding in the deal, but its fleet will expand to 65 vessels, up from the “more than 50” disclosed in its last update in 2023.