Global shipbroking company Maersk Broker Bulk Chartering has announced that it will merge its operations with dry bulk shipbroker Wonsild Dry by January.
Maersk Broker currently holds a majority stake in Wonsild Dry under an agreement that was finalised in 2016.
Wonsild primarily serves the dry bulk and tanker markets with a team of brokers and shipping/freight consultants.
Maersk Broker in a statement said: “Wonsild Dry and Maersk Broker Bulk Chartering share the view that increasing expectations and demands from clients in a highly competitive dry bulk market will require best-in-class broking services both commercially and operationally.
“We are certain that a combined global organisation will create a stronger platform for further growth and, indeed, a company that will be able to service our many loyal clients even better in the future.”
Following the completion of the merger, Wonsild Dry will become a fully integrated part of Maersk Broker.
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As per the agreement, offices of Maersk Broker Bulk Chartering and Wonsild in Copenhagen, Denmark, and Singapore, will also be combined.
Wonsild’s employees in Hong Kong and Bangkok, Thailand, will be retained by Maersk Broker to complement its current network of offices around the world.
The merged entity will trade as Maersk Broker Bulk Chartering. However, the merger will not include Wonsild’s tanker operations.