SCANDINAVIAN POOL TO RUN FOREST PRODUCT TRANSATLANTIC SERVICE
Gorthon Lines and B&N Nordsj'frakt, of Sweden, and Finland’s F-Ships have announced the launch of a joint Atlantic service. The cooperation is linked to a sale of shares in Gorthon Lines by Leif H'egh to B&N Nordsj'frakt.
Gorthon Lines, B&N Nordsj'frakt and F-Ships have concluded a memorandum of understanding regarding a joint North Atlantic service and related activities that will focus on the forest products industry. Gorthon Lines will join a pool with the other shipping companies, strengthening an existing F-Ships pool cooperation between B&N Nordsj'frakt and Finnish partners.
“By combining present contracts, a service with large west- and eastbound cargo volumes over the North Atlantic will be created,” a spokesman for B&N Nordsj'frakt said.
At the same time, B&N has agreed to acquire a total of 5.2 million shares in Gorthon Lines from Leif H'egh & Co. As a result, B&N will subsequently hold 39 percent of the votes and 33 percent of the equity in Gorthon Lines.
Leif H'egh, based in Norway, said that it has decided to sell its entire shareholding in Gorthon Lines because the company no longer falls within Leif H'egh group’s core strategy and focus.