Swedish shipping company Swedish Orient Line (SOL) has become a new majority shareholder in compatriot logistics company Scandinavian Logistics Partners (Scanlog).
Until now, the shipping company has had a 20 percent holding in the company but is now expanding its ownership to just over 50 percent.
“With SOL, Scanlog gets a strong majority shareholder who can help us continue our rapid growth,” Mathias Wideroth, Chairman of the Board Board and founder of Scanlog, commented.
“We’re aware of the fact that a number of our customers want logistics suppliers who have the ability and the skills to deliver door-to-door logistics services… we’re looking forward to the opportunity of also assisting our customers with requests for multimodal transports via Scanlog,” Michael Kjellberg, Chairman of the SOL Board, said.
As explained, one of the motivating forces behind SOL’s decision to increase its stake in Scanlog is the companies’ common commitment to sustainability.
In April last year, SOL also made major investments in sustainable transportation through its 50 percent stake in the start-up shipping company Wallenius SOL.
The new shipping company will transport cargo in the Baltic Sea region by 2021 with several ice-classed LNG-powered vessels. The new vessels are expected to reduce greenhouse gas emissions by 60 percent and fuel consumption by 50 percent per transported unit.