Saturday, 02/07/2022, 08:28 (GMT +7)
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Swire Shipping completes acquisition of Westwood Shipping Lines
Westwood Shipping Lines (Photo: Port of Everett)
Swire Shipping's affiliate SSPL US Inc has completed the acquisition of Westwood Shipping Lines.
Swire Shipping confirms that the acquisition of Westwood Shipping Lines has received the required regulatory approval and has met the customary closure conditions.
Agreement to acquire US-based Westwood Shipping from the J-WeSco Ltd subsidiary of Sumitomo Warehouse Co. Ltd was signed in April 2022.
Westwood Shipping, a transpacific carrier established in 1980, operates container, breakbulk, oversized cargo and forest product services between the Pacific Northwest and North Asia. According to its website, the company has a a fleet of seven geared con-bulk carriers and focuses on the Pacific Northwest to Japan, Korea and China trades.
This expansion is part of Swire Shipping's growth strategy, which is to expand its carrier network and vertically integrate many of its shipping services with first- and last-mile services on land.
“We now look forward to working very closely with our new colleagues at Westwood to welcome them to the Swire Shipping family and help Westwood and its customers and partners grow from strength to strength,” said James Woodrow, CEO of Swire Shipping.
Swire Shipping owns a versatile fleet for ccontainerised, project, heavy lift and breakbulk cargoes.
Earlier this year, Singapore-based Swire Shipping joined the World Shipping Council (WSC). Jeremy Sutton - COO of Swire Shipping - was immediately elected as a representative of the WSC board.
“We are delighted to join the World Shipping Council and to share our knowledge and experience especially in the areas of safety, security and sustainability. We also look forward to learning from our peers and by so doing, contribute to building a vibrant, safe and sustainable industry for years to come,” Sutton said at the time.
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