What Cobelfret does

Cobelfret is a privately held dry bulk shipping company headquartered in Luxembourg, with operating roots tracing to a 1929 Antwerp commodity trading firm and the formal establishment of the COBELFRET shipping brand in 1939. The group operates through Cobelfret SA (Luxembourg, 1996), Cobelfret NV (Belgium), Cobelfret Pte Ltd (Singapore, 2013), and a Miami branch (Cobelfret Inc), with commercial and operational coverage spanning EMEA, Southeast Asia, and the Americas. Its core business is global time-charter dry bulk transportation for 200+ industrial customers across 95+ countries, executing more than 2,200 port calls and carrying 48M+ tonnes of cargo annually.

The company runs a combined fleet of more than 100 vessels ranging from handysize to capesize bulk carriers, mixing owned tonnage with long-term and short-term chartered tonnage to provide schedule flexibility. Fleet quality is positioned as a primary differentiator: Cobelfret operates one of the best GHG-rated post-panamax fleets globally, and is renewing and extending its long-term chartered core fleet with state-of-the-art Japanese-designed newbuildings compliant with EEDI Phase 3 and NOx Tier III standards, yielding low fuel consumption and emissions relative to peers. Verticals served include agriculture and fertilizer, energy (wood pellets and coal), construction (clinkers, slags, gypsum, cement), mining (bauxite, ores, coal, rock, salt), and manufacturing inputs for the aluminium and steel industries.

The revenue model is B2B time-charter shipping, with contract terms negotiated privately based on vessel type, duration, and prevailing market conditions; pricing is not publicly disclosed. Distribution is direct-to-customer via the four regional offices and longstanding counterparty relationships, with no public digital marketing or self-service channel. Notable non-customer positioning includes a Whale Guardians partnership on routing and speed reduction to mitigate ship strikes with whales, which the company highlights as part of its sustainability and regulatory-readiness profile.

Name

Cobelfret

Legal name

Cobelfret SA

Website

https://cobelfret.com

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

101–250 employees

Short description

Cobelfret is a Luxembourg-based privately held dry bulk shipping company operating 110+ owned and chartered vessels from handysize to capesize, transporting agricultural, fertilizer, energy, construction, mining, and manufacturing commodities for 200+ customers across 95+ countries.

Ownership category

akta.pro rank

Product category

Dry Bulk Shipping Services

NAICS

Marine Cargo Handling (488320)

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

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

Keywords

• Dry bulk shipping
• Maritime transportation
• Vessel chartering
• Bulk carrier fleet
• Commodity logistics

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel

Distribution channels1 record

Marketing channels1 record

Core offering

Cobelfret operates a modern, fuel-efficient dry bulk shipping fleet of more than 100 owned, long-term and short-term chartered vessels ranging from handysize to capesize bulk carriers. The company transports agricultural products, fertilizers, energy commodities (wood pellets, coal), construction materials (clinkers, slags, gypsum, cement), mined dry bulk (bauxite, ores, rock, salt), and manufacturing inputs (minerals, ores for aluminium and steel). It also provides time charter services with a focus on environmental compliance and operational flexibility for global industrial customers.

Product overview

Cobelfret is a dry bulk shipping provider with over 90 years of global logistics and trading experience. The company operates a modern, fuel-efficient fleet of owned, long-term and short-term chartered tonnage with more than 100 vessels ranging from handysize to capesize bulk carriers. The core offerings include Dry Bulk Shipping Services for transporting commodities across agriculture, energy, construction, mining, and manufacturing sectors, supported by Vessel Chartering Services that provide flexible time charter arrangements. The company has resumed Handysize Operations (Antwerp, 2021) and operates a Post-Panamax Fleet recognized as one of the best GHG-rated in the world. Cobelfret serves customers globally through offices in Luxembourg, Singapore, Belgium, and Miami.

Differentiator

Problem solved

Functional benefit

Products and services

• Dry Bulk Shipping Services
• Vessel Chartering Services
• Handysize Operations
• Post-Panamax Fleet Service

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

One partnership is on record.

• Whale GuardiansminorOthersCollaboration with Whale Guardians organization to minimize ecological impact of shipping activities. The partnership involves routing ships away from well-known whale grounds, sailing at reduced speeds appropriate for preservation goals, implementing crew awareness and strike avoidance programs, and promoting activities to shipping partners and regulatory bodies.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Star Bulk Carriers: Star Bulk Carriers is one of the largest global dry bulk shipowners, operating a fleet of ~100+ Newcastlemax, Capesize, Kamsarmax, Panamax, and Ultramax vessels transporting iron ore, coal, grain, and fertilizers — directly comparable to Cobelfret's handysize-to-capesize dry bulk model serving the same commodity verticals.
• Diana Shipping: Diana Shipping provides dry bulk shipping services through a fleet of Capesize, Kamsarmax, and Panamax vessels on time charters worldwide, transporting similar commodities (iron ore, coal, grain, fertilizers) and competing for the same industrial customers as Cobelfret.
• Berge Bulk: Berge Bulk is one of the largest privately-held dry bulk shipowners, operating a fleet of Capesize, Panamax, and Handymax/Supramax vessels globally. Its privately-held status, scale, and commodity focus make it one of the most directly comparable private peers to Cobelfret.
• Genco Shipping & Trading: Genco operates a fleet of Capesize, Ultramax, and Supramax vessels transporting iron ore, coal, grain, and steel products. Its diversified dry bulk portfolio and similar customer mix make it a directly comparable peer to Cobelfret.
• Eagle Bulk Shipping: Eagle Bulk operates one of the largest fleets of Supramax/Ultramax dry bulk vessels in the world, focusing on minor bulks and specialized cargoes. Its segment focus and global customer base overlap significantly with Cobelfret's handysize/supramax operations.
• Safe Bulkers: Safe Bulkers operates a fleet of Panamax, Kamsarmax, Post-Panamax, and Capesize dry bulk vessels serving the same major commodity verticals (coal, grain, iron ore, cement, fertilizers) as Cobelfret, with comparable time charter and voyage charter business models.
• Louis Dreyfus Armateurs: Louis Dreyfus Armateurs operates a diversified maritime fleet including dry bulk carriers serving industrial customers globally. As a family-owned European shipping group with roots in commodity trading, its operating model and customer base align closely with Cobelfret's heritage and structure.
• Golden Ocean Group: Golden Ocean is a leading dry bulk shipping company with a fleet of ~90+ Newcastlemax, Capesize, and Panamax vessels, primarily focused on iron ore, coal, and grain transport. Its scale, segment mix, and global customer base closely mirror Cobelfret's dry bulk operations.

Emerging players

• Pangaea Logistics Solutions: Pangaea specializes in niche dry bulk trades including high-ice-class vessel operations for project cargoes and bulk commodities. Its specialized dry bulk focus provides a comparable mid-scale operating model to Cobelfret, particularly for ice-class and project cargo niches.

Broad incumbents

• Oldendorff Carriers: Oldendorff is one of the world's largest dry bulk shipping companies, operating a fleet of ~700+ owned and chartered vessels (Capesize, Panamax, Handysize, etc.) with similar global reach. Its scale significantly exceeds Cobelfret's but it competes directly for the same commodity shipping customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 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 Cobelfret