Two Finnish shipping firms active in the local shorthaul trade announced on Friday a deepening of their cooperation through a shareholding agreement.
Under the deal completed on 29 December, VG-Shipping acquires a 35% stake in Rederi Ab Nathalie (RABN), the two companies said in a joint statement.
No financial details were revealed other than that the transaction involves a straight share sale and a share issue “that strengthens RABN’s capital structure and improves [the] company’s ability to invest in further growth”.
The stated object of the deal is namely to create the scope for “significant” investments in new tonnage to cover the needs of local Finnish clients amid tighter environmental rules for maritime transport.
“With this cooperation, we boost the Finnish shipping industry, security of supply, and we are better positioned to meet the demand of the green transition,“ said RABN’s chief executive officer Antti Partanen.
RABN operates five general cargo ships that fly the Finnish flag and employ Finnish crews. VG-Shipping is a bigger outfit, with a managed fleet of 17 general cargo ships listed on its website.
The two companies are already cooperating. Two of RABN’s ships are time-chartered to Meriaura, an affiliate of VG-Shipping.
“The purpose of the arrangement is to strengthen the good, long-term cooperation between our companies and ensure Finnish coaster tonnage for Meriaura,” said Jussi Malkia, the chief executive officer of VG-Shipping.
Finland’s VG-Shipping shouldn’t be confused with VG Shipmanagement, a similarly named but unrelated outfit based in Greece.
