OSM Thome has agreed to buy all shares in Klaveness Ship Management from Torvald Klaveness.
At the same time, subsidiaries of Klaveness Combination Carriers have entered into new ship management agreements with Klaveness Ship Management under the ownership of OSM Thome.
The parties did not disclose the price of the transactions.
Finn Amund Norbye, chief executive of OSM Thome, said: “We are proud to cooperate with Torvald Klaveness, a quality shipping company, and look forward to working with the skilled team at Klaveness Ship Management.
“Our focus will be on maintaining continuity and building on the high standards of safety, quality and efficiency of operating the Klaveness Combination Carriers.
“We will also work together on future-oriented solutions by utilising new technology and ensuring environmentally friendly operations.”
The move by the Torvald Klaveness Group is driven by the need for scale and investment capacity to address future demands.
It is also seeking to strengthen the development of ship management activities linked to the Klaveness Combination Carriers.
The move continues the trend of specialist ship managers snapping up shipowners’ in-house management companies.
This month, Norbye told TradeWinds his firm was open to more merger-and-acquisition action to follow up on its massive consolidation move last year.
Private equity-backed OSM Maritime joined forces with Singapore’s Thome Ship Management to create a fleet of more than 1,000 ships under third-party management.
Norbye said the group’s main focus was supporting existing customers and growing its business with them.
“Having said that, we are always looking for mergers and acquisitions that align with our vision and strategic goals,” he added at the time.
OSM also bought SeaTeam Management, the in-house manager for John Fredriksen’s Frontline and Golden Ocean, in 2020.
Ship management consolidation has been a hot topic.
Germany’s Zeaborn Ship Management was sold to Wilhelmsen and MPC Capital in 2023, and Anglo-Eastern bought Euronav’s Greek management operation this year.
UK giant V.Group has acquired owner Belships’ management operation as well as ShipMoney. The manager is now under the ownership of Star Capital, a fund that has promised to cut its debt.
Ernst Meyer, CEO of Torvald Klaveness, said: “This transfer of ownership represents a new operations model that integrates the expertise, focus and quality we’ve built over many years in our ship management operations with the necessary scale.
“That said, we are pleased to cooperate with OSM Thome, leveraging their expertise and resources to meet future requirements and preserving the world-class operations of the Klaveness Combination Carrier fleet.”
The agreement safeguards the integrated operating model of the technical management of the Klaveness Combination Carrier fleet, meaning the dedicated team of professionals will continue to work exclusively for Klaveness Combination Carriers.
Engebret Dahm, CEO of Klaveness Combination Carriers, said: “Through the agreements with OSM Thome, Klaveness Combination Carriers will maintain the best of the current integrated operating model for technical management of its fleet with access to the operating scale and additional technical resources of OSM Thome, one of the world’s largest and most reputable ship management companies.”
OSM Thome employs around 29,000 seafarers and 1,600 shore-based professionals, serving several international leading shipping groups.
Klaveness Ship Management will also, under OSM Thome’s ownership, keep its name.
The transactions are set to take effect from January 2025.
The company will establish a new office on the Torvald Klaveness premises in Oslo that will handle the ship management for Klaveness Combination Carriers.
