Graanul Invest buys bulk carrier to transport wood pellets

By Erin Voegele | January 24, 2018

Estonia-based Graanul Invest has announced its subsidiary purchased the company’s first bulk carrier on Jan. 12. The ship has the capacity to transport approximately 30,000 tons of wood pellets.

According to Graanul Invest, the vessel is named MB Imavere, which is derived from the name of the location of the company’s first pellet plant.

The ship has been entered into the Cyprus Registry of Ships and will serve Graanul Invest’s customers in the U.K. and Netherlands. It will be operated and manned by Germany-based Grona Shipmanagement GmbH & Co. KG.

“With the shipping volumes steadily increasing, the acquisition of such a vessel gives us control over a large portion of the transport costs of our produce for a long time,” said Graanul Invest in a statement. “Moreover, the use of larger vessels reduces the ecological footprint of pellet production and trade and, due to significant decrease in the amount of fuel per ton, lessens the dependency of transport costs on oil prices.”

Information published by Graanul Invest notes the company currently operates 11 pellet plants in Estonia, Latvia and Lithuania with a combined production capacity of 1.8 million tons annually.