“K” Line to expand in heavy lift shipping

“K” Line to expand in heavy lift shipping

“K” Line to expand in heavy lift shipping

   “K” Line said Monday that it will acquire the remaining 50 percent of heavy lift transport company SAL Group in June, and it intends to “develop heavy lifter business as a core business of 'K' Line with the established trade name of SAL.”
   “K” Line had acquired half of SAL in 2007.
   “With the current economic rebound, heavy lifter business is considered an essential tool for the development of big projects such as those in the oil and gas industry, which is expected to grow even further,” “K” Line said.
   Headquartered in Steinkirchen, about 30 miles outside the city of Hamburg on the south bank of the river Elbe, SAL has a fleet of 16 ships. Its vessels range in size from 9,549 deadweight tons with cranes capable of combined lift of 600 metric tons to its newest 12,500 dwt ships. Delivered in December 2010 and March 2011, those ships have a combined lift of 2,000 metric tons and are equipped with dynamic positioning systems which 'K' Line said makes them “equally as suited to service-demanding offshore projects within the oil and gas industry as they are in assisting in the installation of foundations for offshore wind parks.
   “By further building up in this field, 'K' Line will create a new synergy with offshore support vessel and drill ship business department,” the company added.
   “Acquiring 100 percent share of SAL Group was considered a favorable opportunity for the buildup of heavy lifter business, which, by taking advantage of 'K' Line's extensive worldwide network, will result in a synergy that is in line with 'K' Line's corporate policy to increase the ratio of its non-container business sector,” the Japanese carrier said.
   'K' Line said it expects to keep the trading name of SAL, location of head office and employment of all current staff. It said Lars Rolner, an existing partner, will remain as chief executive officer after the sale of his share.
   SAL Group was founded by the Heinrich family, its company history going back to 1865 when its first vessel, Amoenitas, was built by Sietas Shipyard in Germany.
   SAL has a staff of almost 120 onshore, and about 100 German and 400 Philippines crewmembers on vessels worldwide. The SAL Group of companies provides a large array of services including sales/project management, vessel operation and ship management engineering and crewing.
   More information is available here.