The G2 Ocean pool has welcomed Japan’s Mitsui OSK Lines as its biggest shareholder after its decision to take full control of bulker owner Gearbulk.

MOL will lift its stake in the Jebsen family’s Gearbulk from 49% to 72% by January next year.

The transaction is a natural continuation of the close and long-term partnership between Gearbulk and MOL, which dates back to 1991, G2 Ocean said.