Strong new alliance in the dry bulk short sea market in Europe: Dutch-based Longship Group BV acquires 50 percent of the Norwegian broker Wagle Chartering AS

Strong new alliance in the dry bulk short sea market in Europe: Dutch-based Longship Group BV acquires 50 percent of the Norwegian broker Wagle Chartering AS

PR Newswire

STOCKHOLM, Nov. 11, 2020

STOCKHOLM, Nov. 11, 2020 /PRNewswire/ -- Dutch based Longship Group BV is pleased to announce the acquisition of 50 percent of Wagle Chartering AS. Wagle Chartering is a competitive broker, agent and commercial manager based in Moss, Norway. This acquisition of the Groningen based shipping company is in line with Longship's strategy to enhance its position in Scandinavia and additionally to enable active participation in the ongoing consolidation of the dry bulk short sea market. Wagle Chartering and Longship enjoy already a long-standing cooperation and therefore will optimize their synergies to become a notable player in Northern Europe.

- Our acquisition of Wagle Chartering complements our overall service offering as industrial carrier, as we can now provide a wider spectrum of sizes to the shortsea trade. Industrial Shipping is deeply embedded in the core of both companies and this investment therefore constitutes a perfect match. The Norwegian roots that Longship is already having will now become even stronger, says Øyvind Sivertsen, CEO of Longship. Originally from Bergen in Norway with a long career within shipping and based in Groningen, the Netherlands, for 15 years.

André Borge, CEO of Wagle Chartering, comments:
-The new setup adds to our overall fleet capacity and grants Longship geographic presence to treat and manage shipments for both our customers. It is a desired step for us, given our successful ventures during last years and the mutual industrial mindset. Wagle Chartering (2003) is a traditional shipbroker company allocated in Moss, Norway.

Longship was established in 2009 and has since developed into a renowned name in the dry bulk short sea segment. Longship operates a homogeneous fleet of about 30 modern vessels with an average age of less than 14 years. Øyvind Sivertsen, CEO of Longship and shareholder of Cargow, and Michel Cigrang, shareholder of Longship and shareholder of CldN Cobelfret, both bring extensive knowledge of the shortsea trade and logistical market. 

Wagle Chartering, established in Oslo in 2003, is a well-known competitive chartering broker and agency with a history dating back to 1936. As exclusive chartering agent and commercial manager Wagle presently controls around 10 general cargo vessels in the range of 2,000 to 13,500 tons deadweight from their offices in Moss, close to Oslo. Biørn Borge and André Borge of Wagle Chartering, Chairman and CEO respectively, bring together more than 70 years of mutual shipping and logistical competence to the partnership.

Longship and Wagle Chartering have initiated several projects for the further renewal and expansion of their fleet which will have clear focus on environmental solutions.

In this way the companies aim to ensure sustainable growth with a fleet that will continue to be future proof and that will serve its objective, as well as that of their customers, to reduce the environmental impact.

For more information:
Øyvind Sivertsen, CEO of Longship Group BV, mobile +31-6-250 63 183 and e-mail: OS@longship.com
André Borge, CEO of Wagle Chartering AS, mobile + 47-930 42 371 and e-mail: andre@waglechartering.no
Bjørn Richard Johansen, media contact, First House, mobile +47-47 800 100 and e-mail brj@firsthouse.no

Short about Longship Group BV
Longship, based in Groningen in the Netherlands was established in 2009 and is a renowned industrial carrier in the short sea market. The company operates a homogeneous fleet of close to 30 modern vessels with an average age of less than 14 years. Their ships move 5 million tons of mainly bulk commodities per annum with a strong focus on biomass fuels and agricultural products, but also cargoes for the metal and aluminium industry. Its reliable and customer focused performance has led to long term relations and contracts. As such the fleet - with a stronghold in the size around 6,000 tdw - enjoys an average contract coverage in excess of 50 percent throughout the year. The company currently boasts a team of 20 experienced employees. The total turnover of the company amounted to € 71 million in 2019. For more information: www.longship.com

Short about Wagle Chartering AS:
Wagle Chartering AS (2003) is a traditional shipbroker company located in Moss, Norway. Recognized as ship owners and/or ship owners' brokers by the short sea marked and from their roots in Rolf Wagle AS (1936), they have been "bread and breed" as ship owners focusing on industrial shipping. Wagle Chartering has 10 general cargo vessels, a mix of geared and gearless dry bulk carriers, sized 2.000 - 13.500 tdw. The company also fixes a lot of volume for third party tonnage via long term contracts and relations. In total some 2,5-3 million tons per year of different commodities like grain, meal, biomass, steels, fertilizers, minerals are controlled and transported. The team of four employees contributed to a turnover of about NOK 125 million in 2019. For more information: www.waglechartering.no

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/longship-bv/r/strong-new-alliance-in-the-dry-bulk-short-sea-market-in-europe-,c3235320

The following files are available for download:

https://mb.cision.com/Main/20001/3235320/1333740.pdf

Press Release (PDF)

https://news.cision.com/longship-bv/i/photo-1--oyvind-sivertsen--ceo-of-longship-group-bv--right--and-michel-cigrang-director-of-longship-,c2848964

Photo 1: Øyvind Sivertsen, CEO of Longship Group BV (right) and Michel Cigrang director of Longship Group BV

https://news.cision.com/longship-bv/i/photo-2--andre-borge--ceo-of-wagle-chartering-as--left--and-biorn-borge-chairman-of-wagle-chartering,c2848963

Photo 2: André Borge, CEO of Wagle Chartering AS (left) and Biørn Borge chairman of Wagle Chartering AS

https://news.cision.com/longship-bv/i/photo-3--oyvind-sivertsen--ceo-of-longship-group-bv,c2848965

Photo 3: Øyvind Sivertsen, CEO of Longship Group BV

https://news.cision.com/longship-bv/i/photo-4--michel-cigrang--director-of-longship-group-bv,c2848966

Photo 4: Michel Cigrang, director of Longship Group BV

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