Samskip Acquires Nor Lines LNG-fuelled Vessels

| The Netherlands, Rotterdam
MS Kvitbjørn and MS Kvitnos move to Samskip

MS Kvitbjørn and MS Kvitnos move to Samskip

Samskip, a global logistics company, says it will acquire activities associated with Nor Lines AS, in a major expansion of its shipping, transport and logistics businesses in Norway. Nor Lines operates two LNG-fuelled vessels, Kvitnos and Kvitbjørn.

Subject to approval by Norway’s competition authorities, the company has agreed with the DSD Group to acquire the activities of Nor Lines, which generate an average annual turnover of €110 million (USD 128m).

The transaction includes terminal activities nationwide, warehousing and haulage services, while five out of seven multi-purpose vessels will be transferred under a time charter arrangement to Samskip. Post-acquisition, activities will continue to operate under the Nor Lines brand name.

Samskip transports around 90,000 TEU a year between Norway and Northern Europe, a volume it aims to further increase through the Nor Lines acquisition. The company’s combined annual turnover after the Nor Lines takeover will make it a major player in the market.

Samskip, as an ISO14001-certified company whose sustainable transport policy has been recognised in multiple industry awards, is extremely pleased to add the LNG-vessels, Kvitnos and Kvitbjørn, to its fleet. The Rolls-Royce Marine designed vessels, delivered in 2015, eliminate NOx emissions, minimise SOx emissions and, in per ton/km terms, produce 70% lower CO2 emissions than the equivalent truck freight move. Overall, they are 65% more energy-efficient than a ship running on conventional marine fuel.

Source: Samskip Holding B.V.

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