Strategy

We aim to further develop our position as one of the world’s leading operators of medium-sized dry bulk vessels.

We seek to continue to optimise our operations with a moderate risk profile. By constantly refining our advanced risk management systems we ensure that we adapt to a continuously changing market environment in a controlled manner.

Our unique business model is based on scalable and asset-light operations, with extensive use of optionality in our trading activities. The world fleet of medium-sized dry bulk tonnage is fragmented, and we believe that an agile approach to growth will provide significant opportunities for further value creation. We will seek to grow our market share in the segments we operate in - Handysize and Supramax/Ultramax.

Our business is a people’s business. We acknowledge the importance of our employees in order to succeed, and we have a firm strategy on how to attract, retain and develop our personnel. Our mix of competences revolves around shipping expertise and trading oriented skills, ranging from internally developed talents to experienced industry leaders. We will remain focused on the careful building of our global teams of dry bulk operators, believing in the competitive edge provided by our people and the Western Bulk culture.

In general, the competitive advantages provided by scale, global reach, advanced systems, culture and people are not easy to replicate, and represent significant barriers of entry for anyone seeking to challenge our position as a world-leading dry bulk operator. Western Bulk will continue to leverage on this position for the benefit of owners and other stakeholders.

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.