A subsidiary of Japan’s NYK Group, NYK Holding Europe, has reached an agreement with the Norwegian shipping company Westfal-Larsen Group to fully acquire Saga Welco.
NYK Group said the transaction is expected to be finalised within 2026, subject to regulatory approvals in various jurisdictions.
Saga Welco is currently jointly owned by the two entities, with each holding a 50 per cent stake in the business. Operating a fleet of 48 open-hatch vessels, the company provides semi-liner services worldwide that originate principally from the east coast of Latin America.
These vessels transport products such as wood pulp, forest products and wind turbine blades. Included in the company's service range are the transport of aluminium ingots, semi-finished steel products and heavy project cargoes.
NYK Group stated the acquisition aligns with a medium-term management plan first announced in March 2023. By following an "ambidextrous management" strategy, the group said it aims to strengthen core businesses and evolve new growth opportunities.
The group added that this transaction will bolster its global network and increase participation in sectors including offshore wind.
