On March 11th, NYK Group company, NYK Holding (Europe) B.V., reached an agreement with the Norwegian shipping company Westfal- Larsen Group to fully acquire Saga Welco AS.
Saga Welco, a Norwegian shipping operator specializing in transporting cargo via open-hatch vessels, is currently jointly owned by NHE and the Westfal-Larsen Group, with each party holding a 50% stake. The transaction is expected to be finalized within 2026, subject to regulatory approvals in various jurisdictions.
Saga Welco operates a fleet of 48 open-hatch vessels and offers worldwide semi-liner services originating principally from the east coast of South America. The company boasts an enviable reputation in high-growth sectors such as wood pulp and other forest products, wind turbine blades and components, aluminum ingots semi-finished steel products, as well as a range of project-cargoes.
