GriegMaas, the new bulker owning venture of Norway's Grieg Star, is set to expand its fleet with a third Chinese-built ultramax.

Grieg Star and Maas Capital form bulker joint venture
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Grieg Star remains in the red despite improvements
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European shipbrokers said company has bought the 63,000-dwt GH Frankel (built 2012) for $16.9m