22 February 2012

Gearbulk, the owner and operator of the world's largest fleet of open hatch gantry and fixed crane vessels, has for some years increased the recruitment of seafarers in Asia and reduced its pool of Europeans.

Gearbulk wishes to announce that it will accelerate this recruitment and that a crew transition plan is being implemented to fully man the Gearbulk fleet with Asian crews within early 2013.

Gearbulk Holding Limited Chairman and CEO Kristian Jebsen said:

"This decision has not been made easily and it is highly regrettable that there are consequences for many of our seafarers. However, we aim to give them our best support when searching for new job opportunities."

The acceleration comes as part of a major review of the company's structure to ensure that Gearbulk continues to be a leader in the unitised cargo transportation markets whilst building a platform for new opportunities and sustainable future growth. 

"An extensive selection and training programme is being put in place together with our manning partners and we will ensure that the new crew gets the best possible introduction to Gearbulk. This accelerated crewing transition will contribute in our efforts to ensure that we are fit for purpose and have a sustainable future," Mr Jebsen added.