Globally renowned commodity trading firm Mercuria is intensifying its capital offensive, continuing to focus on the Capesize market.
According to sources, the company recently acquired the “Pacific South” from Sinokor for approximately $23 million. This is a Capesize bulk carrier built by China Rongsheng in Jiangsu in 2012, with a deadweight tonnage of about 176,000 tons.
Simultaneously, Mercuria is reportedly in talks for another deal that is not yet finalized. Multiple sources indicate that Mercuria is close to acquiring two Capesize vessels from Bocimar: the “Battersea” and the “Belgravia”. These scrubber-fitted bulk carriers are expected to be sold as a package for less than $50 million.
Currently, most of Mercuria’s shipping assets are registered under its Greek ship management company, MM Marine.
In fact, Mercuria is not a newcomer to the shipping industry. Over the past decade, it has primarily participated in the market through period charters, controlling tonnage to serve its own commodity trading book. However, since the beginning of 2024, it has noticeably shifted its strategy: gradually moving from the asset-light “chartering model” towards the asset-heavy “shipowner model”.
Earlier this year, Mercuria entered the dry bulk shipowning sector for the first time, purchasing the 2010-built, 169,092 dwt Capesize vessel “Lavaredo”, which was then named “Nordboen Sun”.
In May, Mercuria continued its acquisitions, purchasing the 2010-built, 169,126 dwt Capesize vessel “Marmolada” (formerly “Bulk Northville”) for approximately $21 million.
Industry insiders believe Mercuria’s move aims to hedge freight rate risks. As one of the world’s top commodity traders, the company manages hundreds of millions of tons of energy and mineral transportation needs annually. Relying entirely on the spot charter market exposes it to significant freight rate volatility; owning a fleet allows it to secure capacity and reduce the erosion of trading profits by market fluctuations.
