SAL Group and ‘K’ Line will inaugurate the operations of a new joint venture this month, with the objective of further advancing the evolution of heavy lift shipping.
In the establishment of this new joint venture, ‘K’ Line founded ‘K’ Line Heavy Lift (UK) Ltd, which will purchase 50% of SAL’s shares. The joint venture will maintain the trade name of SAL due to its significant market recognition in the heavy lift shipping industry.
SAL’s strength lies in its extensive experience in heavy lift shipping, while ‘K’ Line’s contribution emerges from its worldwide network together with its corporate commitment to strong relationships with customers all over the world, particularly with Japanese industries. This new joint venture will thus serve both existing and new emerging markets.
It is the common intention of both parties to develop an operating scenario in which both parties will combine their respective skills, financial strengths and experience in shipping business, enabling SAL, the new joint venture, to achieve the role of being a highly-successful player in the heavy lift global shipping market. Both parties will be equally represented in the corporate structure as well as in the management of SAL.
Currently operating fifteen heavy lifters, SAL’s future fleet expansion program includes the delivery of four newbuildings in 2008, equipped with cranes of 1,400 metric tons SWL as combined lifting capacity. Another two newbuildings are scheduled for delivery in 2009 and 2010, with cranes having lifting capacity increased to 2,000 metric tons SWL. These two vessels will have the capacity to accommodate a Dynamic Positioning System (DP 2), enabling them to moor close to platforms and installation vessels.
SAL’s main office will remain in Steinkirchen, about thirty miles from Hamburg, with ‘K’ Line’s officials to be assigned to that office. SAL plans to establish a branch office in ‘K’ Line’s Tokyo head office.
In the establishment of this new joint venture, ‘K’ Line founded ‘K’ Line Heavy Lift (UK) Ltd, which will purchase 50% of SAL’s shares. The joint venture will maintain the trade name of SAL due to its significant market recognition in the heavy lift shipping industry.
SAL’s strength lies in its extensive experience in heavy lift shipping, while ‘K’ Line’s contribution emerges from its worldwide network together with its corporate commitment to strong relationships with customers all over the world, particularly with Japanese industries. This new joint venture will thus serve both existing and new emerging markets.
It is the common intention of both parties to develop an operating scenario in which both parties will combine their respective skills, financial strengths and experience in shipping business, enabling SAL, the new joint venture, to achieve the role of being a highly-successful player in the heavy lift global shipping market. Both parties will be equally represented in the corporate structure as well as in the management of SAL.
Currently operating fifteen heavy lifters, SAL’s future fleet expansion program includes the delivery of four newbuildings in 2008, equipped with cranes of 1,400 metric tons SWL as combined lifting capacity. Another two newbuildings are scheduled for delivery in 2009 and 2010, with cranes having lifting capacity increased to 2,000 metric tons SWL. These two vessels will have the capacity to accommodate a Dynamic Positioning System (DP 2), enabling them to moor close to platforms and installation vessels.
SAL’s main office will remain in Steinkirchen, about thirty miles from Hamburg, with ‘K’ Line’s officials to be assigned to that office. SAL plans to establish a branch office in ‘K’ Line’s Tokyo head office.