Wellard's core business is the chartering of purpose-built, medium and large livestock vessels to international exporters and importers.
Wellard was formerly Australia's largest livestock exporter, as well as a large mixed farming land owner and operator specialising in the production of grains, legumes and livestock.
Wellard listed on the ASX at the end of 2015, but almost immediately ran into trouble relating to its forecasts and subsequent profit downgrades. In 2020 it completed an asset rationalization and debt restructure program. Wellard fleet now consists of MV Ocean Drover, MV Ocean Swagman and MV Ocean Ute
In September 2016, China-based textile company Fulida was announced to become the agribusiness’s second-largest shareholder with a 16.5 per cent interest it had agreed to purchase from the majority shareholder of Wellard, interests associated with chief executive Mauro Balzarini whose Italy-based family had founded the company, in order to restructure the financial affairs of the private holding company.
