Arctic Securities, Fredriksen Form New Shipbroking Venture
Oslo-based investment bank Arctic Securities AS and the John Fredriksen family’s investment company, Geveran Trading Co, are establishing a new shipbroking company, Arctic Shipping Norway AS.
“With this initiative, another piece of our strategy to cover all aspects of shipping and offshore in-house in Arctic is in place,” says Mads H. Syversen, CEO at Arctic Securities.
“Our ambition is to take a strong and leading position in the shipbroking market. I am truly convinced that both the shipping and the offshore markets will recover,” Syversen added.
Harald Thorstein from the Fredriksen group said that, as nothing comes free in this market, “the new company will not receive any special treatment from our system when it comes to providing new business.”
Arctic Shipping Norway, which will be a 50/50-owned joint venture, is expected to start operations during the first half of 2016. As a consequence of the new establishment, Arctic Securities will terminate its cooperation with Affinity Shipping in London.