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Graanul Invest acquires its first bulk carrier

Estonia-headed wood pellet producer AS Graanul Invest has revealed that a subsidiary of the company has acquired its "first" bulk carrier. The vessel, MV Imavere, has been entered into the Cyprus Registry of Ships and will be both operated and manned by a Germany-based Grona Shipmanagement GmbH & Co. KG.

Estonia-headed pellet producer Graanul Invest has, via a subsidiary, acquired a bulk carrier (photo courtesy Graanul Invest).

According to a statement, the vessel was acquired on January 12 and its name, MV Imavere, is derived from the Estonian location of the company’s first wood pellet facility. The vessel which is capable of loading around 30 000 tonnes of pellets, will primarily serve clients in the UK and the Netherlands.

Graanul Invest says that the use of larger vessels reduces the “ecological footprint of pellet production and trade” and, due to the significant decrease of the amount of fuel per tonne, lessens the dependency of transport costs on oil prices. Thus the acquisition of such a vessel “gives us control over a large portion of the transport costs of our products for a long time”.

The vessel will be both operated and manned by a Germany-based Grona Shipmanagement GmbH & Co. KG.

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