Hong Kong’s Asia Maritime Pacific (AMP) and Hamburg Bulk Carriers (HBC) are merging to create a new name in dry bulk, Cetus Maritime.

Cetus Maritime will become one of the largest privately held handysize operators when the transaction is concluded, likely as early as next month. The combined entity will have 40 owned and approximately 25 chartered vessels. Its global footprint will include nine offices including in Hong Kong, Singapore, Shanghai, and Hamburg.