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BULKER COMPANY TAKES STAKE IN FINNISH NAVIGATION DEVELOPER

BULKER COMPANY TAKES STAKE IN FINNISH NAVIGATION DEVELOPER

Thursday, August 12, 2021 

Dry bulk shipping owner and operator Oldendorff Carriers has decided to invest and become a minor shareholder of Groke Technologies, a Finnish start-up creating navigation solutions and developing new navigation technologies.

Oldendorff Carriers has a close relationship with the Japanese trading and investing firm, Mitsubishi Corporation, which is the leading investor in Groke Technologies and introduced the company to Oldendorff.

With around 750 chartered and owned ships, Oldendorff empathised with Groke’s vision to not jump into autonomy but rather to focus on support of crews and safety of navigation, and reached its decision to invest in Groke. Groke will continue its development and business with advice and support from both investors.

Oldendorff Carriers is one of the largest dry bulk owners and operators with 4,500 employees from 60 countries. With roots starting in Hamburg in 1921, Oldendorff is celebrating its centenary this year.

Groke Technologies was established in Turku in 2019 in cooperation with Mitsubishi Corporation. Groke is developing intelligent navigation systems for shipping operations with the aim of creating safer and more comfortable working conditions on-board vessels.

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