HOEGH LINES AND SAGA FOREST CARRIERS TO POOL SHIPS

HOEGH LINES AND SAGA FOREST CARRIERS TO POOL SHIPS

   Hoegh Lines and Saga Forest Carriers have agreed to pool their open hatch ships, designed to carry forest products, effective May 1.

   The operation of Hoegh Lines’ services will, during the coming months, be transferred to Saga Forest Carriers, with the exception of Hoegh Lines’ cooperation with Companhia de Navegacao Norsul of Brazil, which will continue to be handled by Hoegh.

   “The idea is to maintain both companies’ present marketing set up and to use the same service providers as in the past to ensure best possible transition and continuation of all operations,” Hoegh Lines said.

   The Norwegian shipping line said that the forest product industry has gone through a major consolidation over the last few years, and that this trend is likely to continue.

   Previously, Hoegh Lines and Saga Forest Carriers operated their open hatch vessels independently. Saga Forest Carriers operates 14 open hatch, “box hold” vessels specially designed for forest products and Leif Hoegh, the parent company of Hoegh Lines, owns 10 similar vessels.