Since its establishment in 1982, creating and maintaining an effective business model has been essential for dry bulk shipping company Western Bulk.
As the world’s third-largest operator of supramax vessels, operating between 140 to 170 cargo ships daily, Western Bulk is recognized for successfully becoming a leading asset-light shipping company.
“Being asset-light, we are able to fully focus on our customers,” said Hans Aasnaes, CEO of Western Bulk.
Thanks to its effective and asset-light business model, the shipping company is able to form direct working relations with its larger customers, both locally and internationally. With headquarters in Oslo, Western Bulk has offices in Seattle, Santiago, Casablanca and Singapore, handling operations worldwide and covering all time zones.
“We have a unique system that helps us provide better service to our customers in different regions of the world and enables us to adapt to their needs and the changing markets,” Aasnaes stated.
Also separating Western Bulk from other shipping companies, along its business model,“We have been able to come up with high performing digital tools that enables us to better process and utilize information, improving decision-making in our operations,” Aasnaes shared.
The company’s CEO admits that there are plenty of challenges in the global shipping industry, but with its effective business model, Western Bulk can perform well within the industry.
“It was tough during the first half of 2019, but thanks to our flexible system and the great work of all our departments, we managed risks effectively.”
Based on Western Bulk’s performance throughout 2019, Aasnaes sees 2020 to be a good year for the entire company and is looking to Japan for even more cooperation and business opportunities.
“Japan is, and has always been, an important market for us with regards to high-quality tonnage sourcing and cargo. Our countries are similar in the sense that we both value hard work and respect — and this is what makes us great partners,” he observed.
“Our strong skills and effective business model along with good relationships with shipowners and cargo customers will help us move forward and grow in our future endeavors.”