Joint Venture Highlights

G2 Ocean

G2 Ocean was established as a joint venture company between Gearbulk and Grieg Star on 1st of May 2017, whereby G2 Ocean assumed operational and commercial control of the Gearbulk core fleet, its time charter fleet and the Grieg Star core fleet.

High Heat Tankers

High Heat Tankers PTE LTD (HHT) was established in July 2018 and is a joint venture between Gearbulk Holding AG (50%) and Puma Energy Supply and Trading PTE LTD (50%), providing access to the largest pool of modern IMO II high heat tankers in the world.


GBSMT was established in 1999 as a 50/50 joint venture between Gearbulk and Ship Management & Transport Ltd (SMT). The GBSMT joint venture fleet has historically been comprised of older vessels, many of which are ex-Gearbulk tonnage.


UnITy was established on 17th January 2019 as the common IT business partner for G2 Ocean, Gearbulk and Grieg Star. The department was created to maintain, evolve and shape the companies’ digital infrastructure for the future.

G3 Collaboration - Joint Business Forums

In 2020 Gearbulk, Grieg Star & G2 Ocean established several Joint Business Forums to increase collaboration, encourage discussion and improve communication and engagement.

Performance Highlights


Port State Control average deficiencies per inspection


Rightship Rating


Training days for seafarers

0,8 (47% reduction)

Lost Time Injury Frequency


Training days for shore staff