Swire Shipping affiliate SSPL US Inc. signed an agreement to acquire independent US operator Westwood Shipping Lines.
Transpacific operator Westwood was founded in 1980 and runs container, breakbulk, oversized cargo and forest product services between the Pacific Northwest and North Asia. According to its website, the company has a fleet of seven geared con-buk carriers.
James Woodrow, Managing Director, Swire Shipping, said: “Over the years, we have been looking at strengthening our presence around the Pacific and Westwood, with its excellent safety standards, high quality reputation, cargo handling abilities, and long-term customer relationships, emerged as a strong choice.”
COO Jeremy Sutton said Swire Shipping would continue to provide its current services once the deal was done, and that Senwa Marine Agency and Hyop Woon International will continue as Westwoods agents in Japan and Korea, respectively.
Sutton anticipated further longterm business opportunities between Swire Shipping and Westwood owner The Sumitomo Warehouse Co. Ltd. after a positive experience in negotiations for Westwood. The deal remains subject to regulatory approvals.
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John C. Mahoney, President and CEO of Westwood, said: Westwood has enjoyed Sumitomo Warehouse’s supportive role in the transformation of these last couple years. Now we look forward to benefiting from Swire Shipping’s deep experience while continuing to protect our clients’ supply chains between northeast Asia and the Pacific northwest through our independent, reliable, and agile operation, which we underpin with personal service delivered locally.”
Source: Seatrade Maritime News
