Gearbulk Integrated Report 2023 - Report - Page 11
INTEGRATED REPORT 2023
Gearbulk fosters a tradition of excellence and innovation in its operations.
The Company’s vessels, systems and handling techniques are designed to
provide a punctual and high-quality service, which optimises e昀케ciencies
and economies of scale within the total logistics chain.
between 36,000 dwt and 72,863 dwt, totaling approximately
while minimising its environmental footprint and ensuring
1.0 million dwt. OHGC vessels are dry bulk vessels designed
the safety and well-being of its seafarers and shore sta昀昀.
with traveling gantry cranes and box-shaped cargo holds that
are totally accessible, with no obstructions or deck overhangs.
Specialised shipping activities
The majority of the Company’s vessels are employed into G2
A further four vessels are Totally Enclosed Forestry Carrier
Ocean, in the open hatch pool. They are primarily designed
(“TEFC vessels”), which are fully covered OHGC vessels
and equipped to transport unitised cargoes, which generally
designed for loading and discharging in all weather conditions.
consist of forest products (principally wood pulp, lumber,
plywood, and di昀昀erent types of paper and paper board) and
These vessels are complemented by a further 37 vessels which
other unitised products (principally aluminium, steel and
have box-shaped holds with predominantly open hatches
granite).
and are equipped with jib cranes (“Fleximax” or “Semi-open”
vessels).
Project cargoes are generally individually packaged, high value,
semi-昀椀nished or 昀椀nished products, which are vulnerable to
The Company also has three liquid pitch vessels which are
physical damage during transportation and must, therefore,
speci昀椀cally designed to transport high temperature liquid
be handled with greater care than most bulk cargoes.
products, such as liquid pitch and one conventional vessel
which has been converted to carry liquid caustic soda as well
G2 Ocean is a joint venture of Gearbulk and Grieg Star and
as dry bulk cargo, rather than containerised or unitised cargo.
set up as a pool company. As a pool participant, Gearbulk has
its nominated vessels into the pool, whereby Gearbulk Fleet
Furthermore, one of the 16 OHGC vessels which the Company
Management provides technical management as a Document
operates has been converted to operate as a 昀氀oating storage
of Compliance holder for vessels owned by -or on bareboat
facility for copper concentrate transshipment.
to Gearbulk. This includes core aspects of technical management such as manning, 昀氀eet performance and optimisation,
The uniformity of the majority of the Company’s 昀氀eet enables
maintenance, and docking, as well as projects such as vessel
the Company and its a昀케liates to use its vessels interchange-
conversion, fuel optimisation and decarbonisation. Gearbulk
ably, which provides scheduling 昀氀exibility, minimises ballast
Fleet Management is headed out of Bergen. Our joint venture
voyages (“ballast voyages” refers to voyages, or legs of
G2 Ocean provides the commercial management for the 昀氀eet.
voyages, during which vessels are not fully loaded, which
are made to position vessels in geographic locations where
The Company conducts its operations through a global
they may load cargoes) and reduces costs.
network of o昀케ces in Brazil, Japan, Norway, Singapore, Switzerland, United Kingdom and United Arab Emirates.
The Company also time charters semi-open hatch vessels (which
di昀昀er from an OHGC vessel primarily in that their hatch open-
Terminals
ings are slightly smaller than their cargo holds, thereby causing
The Company owns, or has interests in, terminal operations in
minor deck overhangs, and are equipped with jib cranes).
Brazil, which is used to handle, store, and distribute cargoes.
The Company has a 100% interest in Gearbulk Terminais
Fleet Management activities
Brasil Ltda, which undertakes terminal management activity
Gearbulk manages a 昀氀eet of over 50 open-hatch, 3 tanker
and owns a 50% indirect interest in NST-Terminal e Logis-
vessels and 1 昀氀oating terminal. Gearbulk’s ship manage-
tica S.A (“NST”), a shore terminal located in Santos, Brazil.
ment activities include technical management, crewing,
performance monitoring, vetting, and compliance with
In addition to shore based terminal operations, the Company
environmental, social, and governance standards. Gearbulk
operates one vessel as a 昀氀oating storage facility in Papua
strives to deliver high-quality services to its stakeholders,
New Guinea.
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