Dutch-based short sea operator Longship Group has acquired a 50% stake in shipbroker Wagle Chartering.
Based in Moss, Norway, Wagle Chartering is a broker, agent and commercial manager and Longship says the acquisition is in line with its strategy to enhance its position in Scandinavia and to enable active participation in the ongoing consolidation of the dry bulk short sea market.
“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. The Norwegian roots that Longship is already having will now become even stronger,” said Øyvind Sivertsen, CEO of Longship.
Established in 2009, Longship operates a fleet of about 30 vessels. Longship and Wagle Chartering say they have initiated several projects for the further renewal and expansion of their fleet with a focus on environmental solutions.