What SwissMarine does

SwissMarine Pte. Ltd. is a Singapore-headquartered dry bulk freight operator founded in 2001 by Peter Weernink, providing worldwide transportation services for coal, iron ore, grains, and other raw materials via a controlled fleet of approximately 200 vessels spanning capesize, babycape, panamax, supramax, and ultamax classes. The company serves European coal-fired power stations, steel mills, and mining companies, with publicly disclosed clients including AES, ArcelorMittal, BHP Billiton, CMC, Atlas, and Bulk Trading. Five global offices (Singapore HQ, Geneva, Verbier, Copenhagen, Tokyo) house specialized chartering teams organized by vessel class (cape, panamax, handymax, babycape), and the group employs over 60 professional staff.

The company's core product is dry bulk freight transportation, with annual throughput of approximately 105 million metric tons of cargo equivalent to $1.85 billion USD in disclosed turnover. Since 2022, SwissMarine restarted shipowning activities and now owns outright 4 modern Kamsarmax and 6 postpanamax/babycape vessels, with the remainder of the ~200-vessel fleet operated under charter arrangements. The business model is transaction-fee based: the company generates revenue by intermediating freight between cargo owners and vessel operators, and through long-term time charter contracts with shipowners (e.g., disclosed Diana Shipping agreements for the m/v New Orleans at $26,000/day and m/v Crystalia at $16,200/day).

SwissMarine is privately held and was acquired on September 13, 2019 by Singapore Marine Pte. Ltd., a vehicle formed by founder Peter Weernink together with institutional shipping investors including Golden Ocean, Ionic Shipping, the Martinos family (Thenamaris), Angus Paul, Will Snellings (Marianas Fund), and the Veniamis family (Golden Union Shipping). The combined entity retained the SwissMarine name. The board reflects this investor base with senior industry figures from Cargill, Glencore, IONIC, Golden Union, Thenamaris, and Ospraie Management. Go-to-market is direct enterprise B2B sales, with no public pricing model and contract rates negotiated individually based on vessel type, duration, and cargo requirements.

Name

SwissMarine

Legal name

SwissMarine Pte. Ltd.

Website

https://swissmarine.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

SwissMarine is a Singapore-based dry bulk freight operator founded in 2001, transporting roughly 105 million metric tons of cargo annually across ~200 capesize, panamax, babycape, and supramax vessels to serve European power stations, steel mills, and mining companies worldwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Dry Bulk Freight Transportation: SwissMarine generates revenue by providing transportation services for dry bulk cargo (coal, iron ore, and other raw materials) using a fleet of approximately 200 vessels. The company operates as a freight operator and also restarted shipowning activities in 2022. They transport approximately 105 million metric tons of cargo annually.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

SwissMarine provides dry bulk freight transportation services worldwide using a controlled fleet of approximately 200 vessels (capesize, babycape, panamax, supramax, and ultamax). The company transports coal, iron ore, and other raw materials for European coal power stations, steel mills, and mining companies, moving about 105 million metric tons of cargo annually. Since 2022, the company has also owned 10 modern vessels directly, blending shipowning with chartered tonnage operations.

Product overview

SwissMarine is a dry bulk freight operator offering transportation services on capesize, panamax, babycape, and supramax vessels. The company operates a fleet of approximately 200 vessels (50 Cape, 60 Babycape/Postpanamax, 60 Panamax, 40 Ultramax) and transports approximately 105 million metric tons of cargo annually, generating $1.85 billion in turnover. Since 2022, SwissMarine has restarted shipowning activities, owning 4 modern Kamsarmax and 6 postpanamax/babycape vessels.

Differentiator

Problem solved

Functional benefit

Products and services

• Dry Bulk Freight Transportation Services Worldwide dry bulk cargo transportation services (coal, iron ore, grains, steel) for European power stations, steel mills, and mining companies, using a controlled fleet of capesize, babycape, panamax, supramax, and ultamax vessels.
• Shipowning / Vessel Ownership Services Direct ownership and operation of modern dry bulk vessels (4 Kamsarmax and 6 postpanamax/babycape) for deployment in the company's controlled fleet, blending owned and chartered tonnage.

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Diana Shipping Inc.minorStrategic or Co-development PartnerSwissMarine Pte. Ltd. has entered into multiple time charter agreements with Diana Shipping Inc. for dry bulk vessels. Notable charters include: Panamax vessel m/v Crystalia at $16,200/day (March 2026 - March 2027, generating ~$5.78M gross revenue), and Capesize vessel m/v New Orleans at $26,000/day (October 2025 - December 2026, generating ~$10.22M gross revenue). These are commercial charter party relationships where SwissMarine charters vessels from Diana Shipping.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Golden Ocean Group: Large dry bulk shipowner and one of SwissMarine's key investor groups. Operates a fleet of capesize and panamax vessels globally, overlapping significantly with SwissMarine's vessel classes and chartering counterparties.
• Cargill Ocean Transportation: Cargill's ocean transportation division is the world's largest dry bulk charterer and operates a large controlled fleet. Peter Weernink (SwissMarine's founder) previously held senior cape/panamax trading roles at Cargill, reinforcing the operational and competitive overlap.
• IONIC Shipping: Diversified shipping group operating bulk carriers and tankers; one of SwissMarine's core investor groups (Dimitri Saracakis). Operates in similar dry bulk segments with comparable chartering and fleet operations.
• Thenamaris (Ships Management): Established ship management and ownership group led by the Martinos family; SwissMarine investor. Operates a large dry bulk and tanker fleet with comparable commercial management capabilities.

Direct peers

• Diana Shipping Inc. Major dry bulk shipowner with capesize, kamsarmax, and panamax vessels. SwissMarine has entered into multiple time charter agreements with Diana Shipping, making them both a counterparty and a directly comparable vessel operator.
• Star Bulk Carriers: One of the largest global dry bulk shipowners with a diversified fleet of capesize, panamax, supramax, and ultramax vessels. Directly comparable in vessel mix and customer base.
• Genco Shipping & Trading: Dry bulk shipowner operating capesize, ultramax, and supramax vessels globally. Closely comparable in fleet mix and customer segments (industrial commodities).
• Safe Bulkers: Dry bulk shipowner focused on panamax, kamsarmax, and post-panamax vessels serving coal, iron ore, and grain shippers. Similar vessel profile and commodity exposure to SwissMarine.
• Eagle Bulk Shipping: Owner-operator of supramax/ultramax dry bulk vessels serving global industrial clients. Comparable in vessel size and customer base, though smaller in scale.
• Pangaea Logistics Solutions: Diversified dry bulk carrier that combines owned and chartered ice-class and panamax vessels, serving industrial end-users in commodities. Comparable operator/owner business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 SwissMarine