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Pioneer Marine to sell fleet and close up shop

Photo: The Blowup - Unsplash Dry bulk shipowner Pioneer Marine has put its fleet up for sale and then plans to close shop. The Oslo OTC-listed company said that at special meeting of shareholders last week it was agreed that all vessels of the company be put for sale at an agreed minimum price to be decided by the board of directors. Following the sale of the fleet it said that the company would be dissolved. A handysize bulker specialist Pioneer Marine was founded in 2014 raising $75m on the Norwegian OTC market. The decision to sell up comes at a time of resurgence of the dry bulk shipping market.

Pioneer Marine to call it a day after putting bulker fleet up for sale

Pioneer Marine to call it a day after putting bulker fleet up for sale
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Strong Demand for Commodities Underpins Pioneer Marine s First Quarter Results | Hellenic Shipping News Worldwide

Pioneer Marine Inc. and its subsidiaries a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the quarter ended March 31, 2021. Jim Papoulis, Chief Executive Officer commented: “2020 served as a good reminder that shipping performs a profoundly needed service and remains the backbone of world trade. .

Pioneer Marine Inc Bullish Over the Dry Bulk Market s Prospects Moving Forward

Pioneer Marine Inc. Bullish Over the Dry Bulk Market’s Prospects Moving Forward Pioneer Marine Inc. and its subsidiaries, a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the fourth quarter and year ended December 31, 2020. Jim Papoulis, Chief Executive Officer commented: “The Baltic Handysize index recovered sharply in the fourth quarter of 2020 and continues to improve during the first two months of 2021. While potential impacts from a third wave of COVID remain, this is a vital indicator that a remarkable turnaround has taken place since spring 2020 when there was a global slowdown.

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