June 13, 2012
Noble Chartering Inc (NCI), the dry bulk chartering arm of commodity trader Noble Group, and Kawasaki Kisen Kaisha, Ltd (“K” Line) are delighted to announce the signing of an agreement to commercially operate several Cape Size Bulk Carriers. A new company (K Noble Hong Kong Ltd.) will run the joint venture which will be comprised of a pool of Cape Size Bulkers, starting July 2012.
The Venture is a natural consequence of the close relationship between the “K” Line Group and Noble that dates back several years, and follows a number of successful dry bulk projects between the companies.
NCI AND “K” Line has identified major synergies between their respective Cape businesses. These will provide the new operation with efficiencies and cost savings, and additionally with enhanced market knowledge. This venture will be well positioned to offer competitive pricing and freight solutions to customers, while creating value for shareholders.
The joint venture will be managed out of Hong Kong.
About Noble Group
Noble Group (SGX: N21) manages the global supply chain of agricultural and energy products, metals and minerals. Noble operates from over 140 locations, employing more than 70 Nationalities. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing marketing, processing, financing and transportation of those materials. Noble owns and manages a portfolio of strategic assets, sourcing from low cost producers such as Brazil, Argentina, Australia and Indonesia and supplying to high growth demand markets including China, India and the Middle East. Today, Noble has interests in grain crushing facilities, coal and iron ore mines, fuel terminals and storage facilities, sugar and ethanol plants, ports, vessels and other key infrastructure facilities.