In a move to expand the range of its shipping business Japan’s K Line has entered into a joint venture with German-based heavylift specialist SAL Group, an offshoot of Schiffahrtskontor Altes Land Gmbh &Co KG.
K Line offshoot K Line Heavy Lift (UK) will buy 50% of SAL’s shares for an unspecified price. The new venture will retain the SAL Group designation for market recognition purposes.
While SAL has the heavy lift experience, K Line said in a statement it will bring a global network of potential customers to the deal.
The SAL group has a fleet of 15 heavylifters but will add a further six vessels by 2010.
The family-owned group has developed into a key player on the heavy-lift market, working for large offshore companies and power generation manufacturers.
K Line offshoot K Line Heavy Lift (UK) will buy 50% of SAL’s shares for an unspecified price. The new venture will retain the SAL Group designation for market recognition purposes.
While SAL has the heavy lift experience, K Line said in a statement it will bring a global network of potential customers to the deal.
The SAL group has a fleet of 15 heavylifters but will add a further six vessels by 2010.
The family-owned group has developed into a key player on the heavy-lift market, working for large offshore companies and power generation manufacturers.