NYK acquires Saga Welco, Norwegian open-hatch vessel shipping company

NYK completed the acquisition of Saga Welco, a Norwegian shipping company specializing in open-hatch vessel operations.

This transaction made Saga Welco a wholly-owned subsidiary of NYK Holding, an NYK Group company.

"Saga Welco has earned a reputation among its customers thanks to its efficient transportation services, punctuality, and specialized operations with multi-purpose open-hatch vessels, supported by a global operational network. Leveraging Saga Welco's advanced expertise and highly skilled personnel, the NYK Group seeks to increase the profitability of the dry bulk business and generate additional synergies for the entire Group," NYK stated in a public declaration.

Prior to the transaction, Saga Welco was jointly owned by NHE and the Westfal-Larsen Group, with a 50% stake for each.