G2 Ocean

What G2 Ocean does

G2 Ocean is a privately held Norwegian joint venture founded in 2017 between Gearbulk (65% shareholder) and Grieg Maritime Group (35%), headquartered in Bergen and operating as a pool company. The company manages approximately 120 open hatch and conventional bulk vessels ranging from 23,500 to 82,500 deadweight tons across 32 trade routes on six continents, making it the world's largest ship operator in the open hatch segment. With around 330 employees across 15 wholly-owned offices (hub offices in Bergen, Singapore, and Atlanta), G2 Ocean serves cargo owners in forestry and paper (primary), agriculture, steel and metals, aluminum, project cargo, mining, oil and gas, and raw materials through quote-based freight services, distributed earnings to pool participants (Gearbulk and Grieg Maritime Group), and purpose-built vessels with specialized cargo handling equipment.

G2 Ocean's product portfolio combines core shipping operations with three proprietary digital offerings: MyG2 (a free, customer-facing platform providing live shipment data, Scope 3 emissions tracking, sailing schedules, vessel tracking, performance data, and historical voyage analytics); OceanDocs (a digital Bill of Lading management platform with electronic signatures, BOL switching, Letter of Indemnity, and customs reporting integration); and Emission Reduction Certificates (a 2026-launched book-and-claim service that issues blockchain-registered certificates for biofuel-generated emission reductions, independently verified by Bureau Veritas and aligned to the Smart Freight Centre framework). The go-to-market relies on direct enterprise sales through the office network, supported by participation in maritime industry events (Breakbulk conferences, International Pulp Week, Bergen Shipping Dinner), PR and content marketing, and a self-service cargo enquiry channel.

Revenue is generated transactionally on a per-voyage basis with pricing varying by cargo type, route, and market conditions; the company reported gross revenue of USD 1,382 million in 2024 and total revenue of approximately USD 1,158 million in 2025 (declining due to lower global activity, Red Sea disruption, and shifting trade policies). Strategic direction is anchored by an ammonia/methanol-ready fleet renewal (ten 82,300 DWT Pulpmax vessels plus six 65,400 DWT gantry crane vessels), safety performance (stevedore injuries down over 50% since 2022, zero recordable accidents in G2 Ocean's own workforce in 2025), a 2050 net-zero emissions target, and a 2024 ownership shift at the Gearbulk level that brought Mitsui O.S.K. Lines (72%) and Marubeni Corporation (28%) onto the cap table.

Name

G2 Ocean

Legal name

G2 Ocean AS

Website

https://g2ocean.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

G2 Ocean is a privately held joint venture between Gearbulk and Grieg Maritime Group, operating the world's largest open hatch shipping fleet of 120+ vessels across 32 trade routes for cargo owners in forestry, metals, agriculture, project cargo, and raw materials sectors.

Ownership category

akta.pro rank

Product category

Ocean Freight Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Deep Sea, Coastal, and Great Lakes Water Transportation (48311)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)

akta.pro primary industry

Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)

akta.pro secondary industry

Dry Bulk Ocean Shipping (Capesize/Panamax/Handysize) (TLADAKAA)

Keywords

• Open hatch shipping
• Breakbulk ocean freight
• Project cargo logistics
• Maritime cargo operations
• Ship management services

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Shipping and Freight Services: G2 Ocean generates revenue primarily through freight and shipping services, transporting various cargo types (forestry products, metals, raw materials, project cargo) across 32 trade routes on six continents. Revenue is generated on a per-voyage basis with freight rates varying by cargo type, route, and market conditions. The company operates as a pool company managing vessels from Gearbulk and Grieg Maritime Group, distributing earnings to pool participants.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

G2 Ocean is the world's largest open hatch ship operator, running a pool of 120+ vessels across 32 trade routes to transport forestry products, steel, aluminium, project cargo, raw materials, and agricultural goods. Its core offering is ocean freight shipping services supplemented by proprietary digital platforms (MyG2 for shipment visibility, OceanDocs for bill of lading management) and verified Scope 3 Emission Reduction Certificates for shippers seeking to decarbonize their transported cargo.

Product overview

G2 Ocean is a global ship operator specializing in open hatch cargo handling, trade management, and port operations. The company operates a fleet of approximately 120+ vessels across 32 trade routes on six continents. Its product portfolio includes two primary digital platforms: MyG2 for shipment management and OceanDocs for cargo documentation. The company offers specialized shipping services for forestry, agriculture, steel, aluminium, project cargo, and raw materials, supported by proprietary cargo handling equipment. The product architecture consists of core shipping operations supplemented by digital platforms (MyG2 and OceanDocs) that provide customers with end-to-end visibility and automation capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• MyG2: G2 Ocean's digital platform providing customers full visibility and access to live data and information related to their shipments and business activities.
• OceanDocs

Products and services

• Cargo Operations (Open Hatch Shipping Services) Ocean shipping services across 32 trade routes on six continents transporting various cargo types — forestry products (pulp, paper, tissue, kraft liner board, panel products, lumber), agriculture (grains, fertilizers, soya, corn, rice), steel, aluminium, project cargo, and raw materials (granite blocks, liquid pitch). Customers include cargo owners, shippers and freight forwarders booking per-voyage freight.
• Project Cargo Services Customized ocean transport for heavy, oversized and complex cargo including wind energy components, oil and gas equipment, EPC cargo, mining equipment, yachts and mobility-related cargo. Includes an in-house engineering team that plans and executes multi-stakeholder project lifts and has set records like the 376-ton ultrafiltration unit transport from China to Brazil.
• Fleet Operations (Open Hatch Vessel Pool Management) Commercial management of approximately 120+ open hatch and bulk vessels ranging from 23,500 to 82,500 DWT, including trade management, port operations and cargo handling. Distributes earnings to vessel-owning pool participants and operates 32 trade routes on six continents.
• Cargo Equipment Specialized cargo handling equipment including hooks, unitising tools, airbags, vacuum clamps, core probes, grabs, lifting frames and slings, designed, built and maintained by in-house technicians in G2 Ocean's own workshops to enable damage-free transport of cargo in the company's open hatch vessels.
• MyG2 Digital Platform Customer-facing digital platform providing full visibility and access to live data on shipments — cargo information, Scope 3 emissions, live sailing schedules, vessel tracking, performance data and historical analytics. Free for G2 Ocean customers and supports integration with customer-side internal systems to automate bookings and milestone data flows.
• OceanDocs Cargo Documentation Platform Digital cargo documentation platform for shippers and agents providing end-to-end supply-chain visibility. Manages Bill of Lading creation and release, BOL switching, Letter of Indemnity functionality, electronic signatures and customs reporting integration with a third-party customs provider.
• Emission Reduction Certificates Verified emission reduction service for cargo owners and transport buyers seeking to reduce Scope 3 transport emissions, using a book-and-claim model with digital certificates tracked in a blockchain-connected registry to prevent double-counting. Verified independently by Bureau Veritas and aligned with the Smart Freight Centre Voluntary Market-Based Measures Framework. Available to any company with emissions from transportation regardless of whether their cargo travelled on biofuel-powered voyages.

Quantifiable outcome

• Transported 21.1 million revenue tons of cargo in 2025 with 2,790 port calls across 48 countries
• +4 more outcomes

Named customers2 records

Segments9 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered major, strategic, core, operational and innovation.

• Bureau VeritasmajorTechnology or Integration · 24 June 2026Bureau Veritas serves as the certified auditor independently verifying emission reductions for G2 Ocean's Emission Reduction Certificates. Their assurance process covers verification of emission data, calculations, and double-counting prevention. This partnership ensures credibility and transparency of the emission reduction certificates.
• Smart Freight CentrestrategicStrategic or Co-development Partner · 24 June 2026G2 Ocean's Emission Reduction Certificates approach is aligned with the Smart Freight Centre's framework 'Voluntary Market-Based Measures Framework for Logistics Emissions Account and Reporting' which sets guidelines for the application of emission reduction systems across modes of transportation.
• GearbulkcoreStrategic or Co-development Partner · 25 June 2024Gearbulk is G2 Ocean's largest shareholder holding 65% of the company's shares. G2 Ocean is a joint venture between Gearbulk and Grieg Maritime Group. Gearbulk provides vessels to the G2 Ocean pool and is responsible for vessel ownership and technical management. The majority of Gearbulk's fleet operates under G2 Ocean commercial management.
• Grieg Maritime GroupcoreStrategic or Co-development Partner · 25 June 2024Grieg Maritime Group holds 35% of G2 Ocean's shares as a pool participant and joint venture partner. Grieg Maritime Group provides vessels to the G2 Ocean pool and is involved in fleet investment decisions including the ordering of ammonia-ready newbuild vessels.
• CSSC Huangpu Wenchong LongxueoperationalOthers · 8 April 2024CSSC Huangpu Wenchong Longxue shipyard in China is building G2 Ocean's new Pulpmax vessels - ammonia/methanol-ready open hatch vessels of 82,300 DWT capacity. The first two vessels are scheduled for delivery in the first half of 2027.
• Cross Currents 88innovationStrategic or Co-development Partner · 26 February 2024G2 Ocean collaborated with Cross Currents 88 to develop a safety net providing a simple solution to prevent potentially fatal falls in cargo holds. This innovation won an Innovation in Safety Award in 2024.
• Navax GlobaloperationalImplementation/ SI/ Consulting Partner · 1 January 2021Navax Global hosts G2 Ocean's Ethics Helpline as a third-party provider, enabling anonymous and confidential reporting of concerns or suspected breaches of law or company policies. The ethics helpline is available for both internal and external parties.
• Maritime Anti-Corruption Network (MACN)strategicStrategic or Co-development Partner · 1 January 2017G2 Ocean has been a member of MACN since 2017. Together with 181 member organisations from the maritime industry, they work towards the vision of a maritime industry free of corruption. G2 Ocean participates in anti-corruption initiatives and collaborative efforts to address corruption risks in the maritime sector.

Scale indicators13 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• BigLift Shipping: Netherlands-based specialist in heavy-lift and project cargo with a fleet purpose-built for oversized and high-value cargo — directly comparable to G2 Ocean's project cargo segment and serves the same EPC, energy, and mining customers.
• BBC Chartering: German-based global leader in breakbulk and project cargo shipping with a similarly specialized multi-purpose fleet serving similar industries (forestry, steel, project cargo) — the closest direct competitor to G2 Ocean in the heavy-lift/breakbulk market.
• Spliethoff: Dutch ship operator with a comparable mix of multipurpose and project-cargo vessels serving industrial cargo owners across similar trade routes — competes head-to-head with G2 Ocean in forestry, steel, and project cargo across Europe-Atlantic-Pacific trades.
• Gearbulk: Norwegian/Swiss open hatch vessel owner and pool-company leader that owns 65% of G2 Ocean and operates an overlapping fleet on similar trade routes — a parent yet also a commercial peer in the open hatch segment with comparable cargo handling focus.

Emerging players

• Star Bulk Carriers: Global dry bulk shipowner with a fleet oriented to Capesize/Panamax bulk carriers — adjacent competitor for dry cargo flows rather than a direct open hatch specialist, but competes for related chartering and freight opportunities.
• Berge Bulk: Singapore-based independent dry bulk owner operating a modern fleet of Capesize and Panamax vessels, focused on carbon-neutral shipping — comparable in decarbonization narrative but competes in adjacent (rather than open hatch) bulk segments.
• Pacific Basin Shipping: Hong Kong-based dry bulk and minor bulk shipowner focused on supramax/handysize tonnage — competes with G2 Ocean for similar cargo customers and smaller parcel sizes across intra-Asia and global minor bulk trades.

Regional players

• J. Lauritzen: Danish shipping group with dry cargo and reefer capabilities serving similar industrial cargo customers — overlaps with G2 Ocean's bulk/breakbulk offering but is more regionally concentrated and retains a strong reefer focus.

Broad incumbents

• Mitsui O.S.K. Lines (MOL): World's largest shipping conglomerate and now G2 Ocean's ultimate controlling shareholder (72% of Gearbulk); MOL operates bulk, tanker, LNG, and container fleets and overlaps with G2 Ocean across dry bulk and breakbulk trades at a portfolio level.
• COSCO Shipping Bulk: Major Chinese state-affiliated dry bulk carrier with a much broader fleet portfolio but overlapping competition for bulk and breakbulk cargo flows between Asia, Europe, and the Americas — broad incumbent rather than open hatch specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/g2ocean
• LinkedInlinkedin.com/company/g2-ocean

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about G2 Ocean