NYK Group fully buys Saga Welco from Westfal-Larsen

NYK Holding (Europe) B.V. (NHE), part of Japanese shipping conglomerate NYK Group, has reached an agreement on March 11 with the Norwegian shipping company Westfal- Larsen Group to fully acquire Saga Welco AS (Saga Welco).

The shipping company Saga Welco is a Norwegian shipping operator specializing in transporting cargo via open-hatch dry cargo vessels, and the company is currently jointly owned by NHE and the Westfal-Larsen Group, with each party holding a 50% stake.

NHE informs that the share transaction is expected to be finalized within 2026, subject to regulatory approvals in various jurisdictions.

Saga Welco operates a fleet of 48 open-hatch vessels and offers worldwide semi-liner