Samskip Buys Stake in Norway’s Reefer Firm
- Business & Finance
Rotterdam’s transportation firm Samskip has completed the acquisition of a 50% stake in Bergen-based owner Silver Green, which operates a fleet of 14 reefer vessels.
Silver Green AS, with its primary trading being in the North Atlantic, Baltic, North Sea and Black Sea, is changing its name to Silver Sea AS to mark the finalisation of ownership changes.
Silver Green AS was established in 2010 as a joint venture between Silver Sea AS and Green Shipping II AS. Samskip has held a 50% stake in Silver Sea AS since 2002 which it recently sold.
Samskip Logistics subsequently finalised acquisition of 50% of shares in Silver Green AS, thereby becoming a 50% shareholder in Silver Green together with Silver Invest.
As part of the transactions, Samskip Logistics has purchased five reefer vessels during the past year, taking an additional two vessels, Alma and Belbek, on long-term charter.
The company’s five reefer vessels will now be renamed as follows: Samskip Arctic, Samskip Glacier, Samskip Crystal, Samskip Frost and Samskip Ice.
“We have participated in both Silver Sea AS and Silver Green AS over the last 14 years, and we were delighted to take the opportunity to acknowledge the strengthening of our position in the Silver Green partnership further. The company is well managed and we look forward to supporting its further growth,” Ásbjörn Gíslason, CEO of Samskip Logistics, said.
In late August, Samskip completed the acquisition of Norwegian shipping firm Euro Container Line (ECL).
The company said that the ECL acquisition aims to strengthen Samskip’s position in the Norwegian market by enhancing the speed and frequency of services.