Icelandic shipping firm Eimskip has strengthened its position in worldwide logistics services by acquiring a 75% stake of the freight forwarding company SHIP-LOG. The current management team will continue to own 25% of the shares in the company and manage its operations.
Eimskip said SHIP-LOG’s strong international agency network in more than 120 countries will give the company a global reach, and the acquisition of SHIP-LOG further strengthens the company’s reefer logistics services and increases the commodity portfolio with the addition of food and pharmaceutical logistics, with new customer base and volumes.
“We are pleased to have SHIP-LOG as a part of the Eimskip group and the company will further strengthen our logistics services with a wider scope of Eimskip’s services in terms of new commodities. The valuable experience of SHIP-LOG’s management and employees will help us to further strengthen our operation in Denmark and the worldwide forwarding operation,” said Gylfi Sigfússon, president and CEO of Eimskip.