Short Facts on WBC

  • The history of Western Bulk starts in 1982, when the Company is established under the names Western Bulk Shipping and Western Bulk Carriers.
  • Western Bulk is a global operator of dry bulk vessels and the world’s third largest operator of Supramax vessels.
  • Western Bulk combines solid shipping experience with an asset-light, decentralised and trading-oriented business model.
  • The headquarter is located in Oslo, and the company has offices in Casablanca, Singapore, Seattle and Santiago.
  • Western Bulk is matching cargo with vessels under all market conditions; leasing vessels from various vessel owners and transporting cargo for a large number of customers worldwide.
  • Risk management is a key part of Western Bulk's DNA, fundamentally important for our operations. Our risk management system includes various models to quantify risks, as well as policies and procedures to limit and control the market, counterparts and operational risks.
  • Western Bulk has a flat and decentralized organisation, and our business units have a high degree of autonomy. This enables us to make decisions quickly, within the defined risk limits set, but it also supports information sharing by strengthening the co-operation and team spirit across the organisation.
  • The management team of Western Bulk consists of CEO Jens Ismar, CFO Kenneth Thu and CRO Egil Husby.
Western Bulk

Email and IT-related Fraud Alert

There is an increasing risk of attempted fraud and other security threats via email. In particular, Western Bulk has noticed an increase of fraudulent requests to change bank account details of suppliers/creditors, in an attempt to redirect payments to criminals and not to the intended recipient. We encourage everyone to be vigilant and learn to detect fraudulent email instructions - seemingly legitimate emails may contain fraudulent information, this is not just a cybersecurity matter.

As a result, Western Bulk will treat any notice of bank account changes as suspicious. Urgent pressure to effect payment as soon as possible without verification of the changes will also be treated as suspicious.

Please note that Western Bulk would not inform of changes to bank account details by email notice alone. In the unlikely event that we need to change a beneficiary name or our other bank account details, we would personally contact our supplier or customer in order to personally verify any change in details.

Similarly, we ask that all our suppliers and creditors:

1. first notify us in writing and
2. personally verify any change in bank details or change in beneficiary in any payment advice to Western Bulk.

In summary, notices of bank account changes will require voice confirmation from your Western Bulk contact, either by telephone or face to face, before payment can be authorised so please make sure to notify any changes in good time.