Longship takes 50% stake in Wagle Chartering

Nov 11, 2020

Longship takes 50% stake in Wagle Chartering

The Netherlands-based shortsea carrier Longship Group BV has acquired 50 per cent of Wagle Chartering AS, a Norway-based shipbroker.

Image Courtesy: Longship/Wagle Chartering

This acquisition is said to be in line with Longship’s strategy to enhance its position in Scandinavia and enable active participation in the ongoing consolidation of the dry bulk short sea market.

Wagle Chartering and Longship already have a long-standing cooperation and therefore will optimize their synergies.

“Our acquisition of Wagle Chartering complements our overall service offering as industrial carrier, as we can now provide a wider spectrum of sizes to the shortsea trade. Industrial Shipping is deeply embedded in the core of both companies and this investment therefore constitutes a perfect match, Øyvind Sivertsen, CEO of Longship, commented.

“The new setup adds to our overall fleet capacity and grants Longship geographic presence to treat and manage shipments for both our customers. It is a desired step for us, given our successful ventures during last years and the mutual industrial mindset,” André Borge, CEO of Wagle Chartering, said.

Established in 2009, Longship operates a fleet of about 30 vessels with an average age of less than 14 years.

Wagle Chartering, established in Oslo in 2003, presently controls around 10 general cargo vessels in the range of 2,000 to 13,500 tons deadweight.

The two companies also said they have initiated several projects for the further renewal and expansion of their fleet which will have a clear focus on environmental solutions.

The post Longship takes 50% stake in Wagle Chartering appeared first on Offshore Energy.

News provides by MaritimeGlobalNews.com