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 services originating principally from the east coast of South America.

The company is mainly shipping cargoes such as wood pulp and other forest products, wind turbine blades and components, aluminum ingots semi-finished steel products, as well as a range of project-cargoes.