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Longship Group takes half stake in Norwegian broker Wagle Chartering

Dutch based Longship Group has announced the acquisition of 50 percent of Wagle Chartering. Wagle Chartering is a competitive broker, agent and commercial manager based in Moss, Norway.

This acquisition by the Groningen based shipping company is in line with Longship’s strategy to enhance its position in Scandinavia and additionally to enable active participation in the ongoing consolidation of the dry bulk short sea market. Wagle Chartering and Longship enjoy already a long-standing cooperation and therefore will optimise their synergies to become a notable player in Northern Europe.

“Our acquisition of Wagle Chartering complements our overall service offering as industrial carrier, as we can now provide a wider spectrum of sizes to the shortsea trade. Industrial Shipping is deeply embedded in the core of both companies and this investment therefore constitutes a perfect match. The Norwegian roots that Longship is already having will now become even stronger,” said Øyvind Sivertsen, CEO of Longship. Originally from Bergen in Norway with a long career within shipping and based in Groningen, the Netherlands, for 15 years.

André Borge, CEO of Wagle Chartering, commented, “The new setup adds to our overall fleet capacity and grants Longship geographic presence to treat and manage shipments for both our customers. It is a desired step for us, given our successful ventures during last years and the mutual industrial mindset. Wagle Chartering (2003) is a traditional shipbroker company allocated in Moss, Norway”.

Longship was established in 2009 and has since developed into a renowned name in the dry bulk short sea segment. The company operates a homogeneous fleet of about 30 modern vessels with an average age of less than 14 years. Øyvind Sivertsen, CEO of Longship and shareholder of Cargow, and Michel Cigrang, shareholder of Longship and shareholder of CldN Cobelfret, both bring extensive knowledge of the shortsea trade and logistical market.

Wagle Chartering, established in Oslo in 2003, is a well-known competitive chartering broker and agency with a history dating back to 1936. As exclusive chartering agent and commercial manager Wagle presently controls around 10 general cargo vessels in the range of 2,000 to 13,000dwt from their offices in Moss, close to Oslo. Biørn Borge and André Borge of Wagle Chartering, Chairman and CEO respectively, bring together more than 70 years of mutual shipping and logistical competence to the partnership