Germany’s Navalis Shipping has taken a 50% holding in Oslo Bulk’s Swedish subsidiary, Dalaro Shipping, to create a new bulker alliance.
The companies said the transaction will enable the partners to leverage their strengths to better serve shippers in key markets.
Dalaro Shipping is the commercial manager for Norwegian owner Oslo Bulk’s fleet and runs a liner service for forestry products from northern Europe to North Africa.
No financial terms were disclosed for the share sale.
Navalis Shipping’s core market is in the Baltic Sea and North Sea.
The acquisition will allow the two companies to have a larger tonnage base and be able to bid for more diverse contracts, the companies said.
Dalaro Shipping chief executive Rickard Svenson said: “I have been working with Navalis since 2012 as a tonnage provider and I am very happy to have them as new shareholders. I expect this partnership to bring synergies to both Dalaro and our customers.”
The acquisition is expected to close by the end of the year, following customary regulatory approvals.
There will be no personnel changes, with an increased collaboration on a day-to-day basis.
Navalis Shipping managing director Simon tom Worden said: “This new partnership reflects our long collaboration with Rickard Svenson and his team.
“Together with Dalaro Shipping and Oslo Bulk, we’re confident that our companies are well prepared to service their customers’ needs even better in the future.”
Committed to partnership
Oslo Bulk sold the 50% stake in Dalaro but said it remains a committed partner.
“Oslo Bulk bought Dalaro [in] 2017. During these seven years Dalaro has more than doubled its cargo volumes and number of ships,” Oslo Bulk chief executive Alf Andersen said.
Dalaro Shipping was formed in 1981 in Stockholm, Sweden, under the name Dalaro Oil & Shipping.
Since 2019, the headquarters have been located in Norrkoping.
It operates as a time-charter owner and has a fleet divided into two segments: 9,000 dwt and 17,000 dwt.
The 16-strong fleet is made up of modern multipurpose/timber carriers, built between 2010 and 2012, that are on long-term deals.
Navalis Shipping is active as a shipowner and operator, mainly focusing on small and midsize bulk traffic.
Headquartered in Oldendorf, Germany, the company has a fleet of 50 ships ranging from boxships and MPPs to general cargo tonnage.
Oslo Bulk is a private Norwegian shipowner backed by Andersen, the Steensland and Von Appen families, and John Hatleskog’s Jaco Invest.
It has 19 bulkers, MPPs and general cargo ships.
