Shipowners Al Seer Marine and Netbulk are teaming up to expand their bulker fleets and cargo volumes.

Abu Dhabi-listed Al Seer has signed a deal to carry 5m tonnes of dry cargo in 2022 with the Singapore operator and trader.

The Middle East owner is targeting revenue of $100m from the agreement.

Netbulk, which describes itself as a one-stop maritime solution company, was founded in 2015 and provides trading, chartering, consultancy and investment services.