Danish shipping company Norden has received regulatory approval for its planned acquisition of Norwegian handysize specialist Norlat Shipping.
“We are pleased to have received the green light for the acquisition and welcome the team and customers of Norlat Shipping,” said Jan Rindbo, CEO of Norden. “Norlat is an experienced niche player and a great addition to our growing project and parcelling activities, enabling us to offer fully flexible solutions to our customers as a global provider of ocean freight services for bulk and project cargoes of all sizes.”
Norlat Shipping is privately owned and was founded in 1986. Its core business is the shipment of sawn timber from Baltic and continental ports to North Africa and North America. The company has offices in Sarpsborg and Bergen in Norway and in the Swedish capital Stockholm. From there, the eight employees operate the asset-light business, which is based on chartered ships with four to five monthly shipments on predominantly handysize vessels.
Norden had acquired Thorco Projects in June 2023
The acquisition amount is not disclosed and, according to Norden, has no impact on Norden’s forecast for the full year 2024. This is the shipping company’s second acquisition following the acquisition of the activities of Thorco Projects in mid-2023, which is now fully integrated into Norden’s Freight Services & Trading division and operates under the name “Projects & Parcelling”. Norlat Shipping will become part of the Projects & Parcelling team of the new owners.
