Viking Supply Ships AB’s fully-owned subsidiary, TransAtlantic AB, will sell its container operations to X-Press Feeders and its ship management operations to AtoB@C.
TransAtlantic AB, a subsidiary of Viking Supply Ships AB that offers transport services in the Baltic and North Sea area, said it will sell its container operations to X-Press Feeders and its ship management operations to AtoB@C.
TransAtlantic’s three container-shipping services, including the forwarding business and 15 employees, will be acquired by X-Press for 3.1 million euros ($3.3 million) on a debt-free basis, payable in cash on closing. The transaction is expected to close at the beginning of December.
X-Press will conduct the business under the brand TransAtlantic Container.
The three container-shipping services include the TransBothnia Container Line, TransFeeder Line North, and TransFeeder Line South.
The TransBothnia Container Line has a rotation of Kokkola, Oulu, and Kemi, Finland; Pitea, Sweden; Hamburg, Germany; Antwerp, Belgium; and back to Kokkola. The loop operates with two vessels with an average capacity of 803 TEUs, according to ocean carrier schedule and capacity database BlueWater Reporting.
The TransFeeder Line North has a rotation of Kemi, Oulu, and Tornio, Finland; Hamburg and Bremerhaven, Germany; and back to Kemi. BlueWater Reporting notes that the loop operates with two vessels with an average capacity of 868 TEUs.
The TransFeeder Line South has a rotation of Sodertalje, Oxelosund, and Ahus, Sweden; Bremerhaven and Hamburg, Germany; and back to Sodertalje. The loop operates with one 508-TEU vessel, according to BlueWater Reporting.
The ship management operations, TransAtlantic Ship Management AB, will be sold to AtoB@C “at market terms” TransAtlantic said. The transaction is expected to close at the beginning of December. Although the operation will remain in Gothenburg, it will be renamed to GoTa Ship Management AB.
TransAtlantic Ship Management is a fully-owned subsidiary of TransAtlantic that offers vessel management, technical consultancy, crewing services and docking services. TransAtlantic Ship Management, which consists of 16 onshore employees and 230 offshore employees, manages around 20 vessels in the roll-on/roll-off and general cargo segment.
AtoB@C, which is a privately-owned shipping and logistics company that serves the European and Scandinavian market, operates a fleet of 30 ice-classed, multi-purpose vessels.
TransAtlantic AB sells container, ship management operations
