Western Bulk Chartering AS was sold to Kistefos Equity Operations AS in February 2016, and has since then been operating as a stand-alone group of companies. Western Bulk Chartering and its subsidiaries operate a fleet of around 120 chartered-in vessels, transporting cargoes for its customers world-wide. In June 2016, Western Bulk Chartering completed a USD 20 million equity issue in a private placement and broadened its shareholder base. It is privately owned by about 20 shareholders and the Kistefos Group controls about 78% of the shares through two of its wholly owned subsidiaries. Western Bulk Chartering has a healthy balance sheet and a robust business model, which since 2007 has proven successful in all trading environments.