
The Japanese shipping group Nippon Yusen Kaisha (NYK),
through the wholly owned subsidiary NYK Holding
(Europe), signed an agreement to acquire the stake not yet in
his possession of the capital of Saga Welco, a shipping company
operating a fleet of 48 open-hatch ships used for the
transport of forest products, wind turbine components,
aluminum blocks, semi-finished steel products and project
cargo mainly from the east coast of South America.
Currently the Welco Saga is a 50:50 joint venture between the
Westfal-Larsen and NYK Holding (Europe). Second
anticipated, the transaction will be implemented by the end of
this year.