Wilhelmsen targets offshore with Norwegian private equity tie-up

Wilhelmsen targets offshore with Norwegian private equity tie-up

Some of the biggest names in Norwegian industry are battling it out for bargains in the nation’s distressed offshore sector. Adding to the mix is shipowner Wilh Wilhelmsen which has just launched a vehicle with Norwegian private equity group Ferd Corporation to look at offshore investments, according to local newspaper Finansavisen.

Wilhelmsen has been keen to diversify its earnings base away from its core shipping and logistics base.

With assets – especially supply related – down by more than 40% in recent months there is a vast amount of cheap, distressed tonnage on offer from Norway.

Among Ferd’s boardmembers is Endre Ording Sund who previously served as group managing director of Wilhelmsen Group.

Norwegian tycoons Kristian Siem, Kjell Inge Rokke and John Fredriksen have all been making moves in the distressed Norwegian offshore markers this year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts