ForestWave acquires Symphony Shipping MPP fleet
Dutch owner ForestWave Navigation has acquired Symphony Shipping and its fleet of eight multipurpose (MPP) vessels for an undisclosed sum.
The deal will see ForestWave’s fleet increase to 24 units, including three newbuilds set to deliver in the next two years. As part of the transaction, ForestWave will also be taking over the shipmanagement activities of Symphony Breda and its staff.
The acquired fleet consists of open-top, one-box-hold, geared MPPs of Ecobox design. In 2021, ForestWave snapped up two ships from Symphony, the Symphony Sea and Symphony Sun, and will now own 12 Ecobox-type ships on a fully delivered basis.
The vessels will continue to be commercially operated by ForestWave’s subsidiary, Schulte & Bruns Nederland.
Jari van Niejenhuis, managing director of Symphony Shipping, will join ForestWave’s board of directors, next to Fred Diepeveen, managing director and Ric Nijhout, financial director.