The beginning of May has been busy for Norwegian shipping and logistics company Wallenius Wilhelmsen as it completed two major business transactions.
On May 2, the company revealed it acquired the remaining shares in Armacup, a New Zealand-based shipping company engaged in the car carrier business.
The Norwegian roll-on/roll-off (RoRo) company now controls a 100 percent stake in Armacup after previously owning 65 percent.
“This acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup. It is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia,” Xavier Leroi , Chairman of the Board at Armacup and COO Shipping Services at Wallenius Wilhelmsen, commented.
As informed, existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, agencies in China and Australia, and a shared customer base. Armacup has pioneered the Japanese used car trade since the 1980s and since then expanded its position in the Asia-Oceania trade.
In a separate announcement, Wallenius Wilhelmsen said on May 1 that the ownership of Melbourne International RoRo & Auto Terminal ( MIRRAT ) was transferred to Australian Amalgamated Terminals, a wholly owned subsidiary of Qube Holdings Limited, Australia’s largest logistics provider.
Last month, the Australian Competition and Consumer Commission (ACCC) approved the transaction.
Almost a year ago, the Norwegian company agreed to sell MIRRAT for A$332.5 million.
Following the transaction, Wallenius Wilhelmsen will continue to utilize the terminal.
In related news, the company recently launched a sustainable framework promoting green financing practices. The new framework is in line with Wallenius Wilhelmsen’s commitment to achieve net-zero greenhouse gas emissions by 2040.
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