Geir Mjelde, CEO of KGJS, commented: “This transaction represents an important shift in our strategy of now concentrating on dry bulk. Our assessment of the market is that the timing of the sale is favorable and the transaction will accelerate the expansion of our dry bulk activities. We are grateful for the good collaboration with Hayfin.”
Andreas Povlsen, Head of Maritime at Hayfin, added: “The team managing the JV has been truly professional throughout the partnership. It has been a real pleasure to work together, and we look forward to other similar mutually beneficial investment opportunities going forward. We maintain our constructive stance on the tanker market”
Following this transaction, KGJS will have a fleet consisting of two product tankers from the JV and separately, five dry bulk vessels. In October, KGJS reached an agreement to purchase a 2023 built Kamsarmax dry bulk vessel for delivery in 2024.
Hayfin remains active in the maritime space and has acquired more than 80 vessels on behalf of managed funds, including LNG, dry bulk, container vessels and tankers.