Gearbulk Integrated Report 2023 - Report - Page 69
INTEGRATED REPORT 2023
STRATEGIC OVERVIEW
GBSMT
EXPERIENCED
IN BULK CARGO
GBSMT LIMITED
• Operates 14 vessels
• Maintains 50% ownership of three
GBSMT was formed in 1999 whereby Gearbulk
owns 50% of the shares in the Joint Venture and
SMT Shipping owns the remaining 50%. The Joint
Venture is in the business of self-loading and
self-unloading dry bulk carriers primarily in the
Americas.
additional vessels
The GBSMT joint venture 昀氀eet has historically been comprised of older vessels, many
of which are ex-Gearbulk tonnage. Since 1999 a total of 29 Gearbulk vessels have
joined the GBSMT 昀氀eet, starting with the ‘Dipper Arrow’ in 1999 to the most recent
vessel the ‘Ibis Arrow’ in February 2020. In addition to the ex-Gearbulk tonnage,
GBSMT has undertaken a 昀氀eet renewal programme the last 6 years, including vessels
taken from the market (both newer second-hand vessels) and three new buildings.
The GBSMT jib crane and gantry crane open vessel 昀氀eet carry cargoes suchas iron
ore, pet coke, direct-reduced iron (DRI), scrap, salt, aggregates, andother bulk, which
is often self-discharged. The vessels are trading worldwide with historical focus on
primary trading in the US – Caribbean market.
Commercial and technical management are performed by SMT. The GBSMT joint
venture proves the bene昀椀t of two companies working together with one vision to
partner and collaborate to build a robust and sustainable business.
Read more about SMT here: smtshipping.com
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