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Inchcape Shipping Services successfully invests in a major share of Leth Suez Transit Ltd AS
Global shipping leader Inchcape Shipping Services is proud to announce the successful investment in a major share of Leth Suez Transit Ltd AS (LETH). This strategic move marks an exciting development in the shipping industry, further solidifying Inchcape’s commitment to innovation and progress.
Under the new ownership structure, Otto Jervell, the respected CEO of LETH, will continue to helm the company as a part-owner. Jervell expressed enthusiasm about this partnership, stating, “With such an investment, we will be able to follow our strategy and take LETH to the next level, becoming the leading global transit agent.” He assured stakeholders that all operations would continue seamlessly with the same operating philosophy and talented team.
LETH, with its rich heritage starting in 1924 as a bunker supplier in Egypt, has grown into a globally recognised top transit agent. The company currently handles over 200 transits per month in the Suez Canal. LETH has earned a reputation for its unique customer-centric model, exemplified by its close client coordination desk that offers an exceptional customer experience.
While the Suez Canal remains at the core of LETH, the company’s expertise and solution-oriented approach have expanded to cover other vital transit locations, including the Panama Canal, the Turkish and Danish Straits, and key bunkering locations such as Singapore and Gibraltar.
Inchcape Shipping Services, a portfolio company of private equity fund Epiris, represents clients in over 85% of the world’s ports across 60 countries through its network of 247 owned offices. It has established itself as a trusted partner for some of the world’s largest and most respected shipping companies across various sectors, including O&G, Cruise, Dry Bulk, Liner, Government, Ship Manager, and Offshore industries.
The investment in LETH by Inchcape presents a great opportunity for both companies to enhance their operations and achieve greater success. LETH will leverage Inchcape’s global infrastructure, digital transformation capabilities, and adherence to global standards and processes under its own brand, led by its existing management team. In turn, Inchcape will benefit from LETH‘s distinctive and solution-based value proposition, brand strength as a transit specialist, and strong customer relationships.
“From the very first engagement, Jervell and his team have left me with a very strong impression. Their client and service focus is second to none and very much setting the industry benchmark. Our team and I feel privileged to be able to work together and continue to develop meaningful value propositions for our customers. I am extremely excited to see our true joint potential benefit our partners around the world!” said Inchcape Shipping Services CEO Philippe Maezelle.
In partnership with Inchcape, LETH is poised to offer a refined product that generates even more value for its users. While the personal touch that LETH is known for will remain a fundamental aspect of the product, it will now have the global reach to be utilised by a vast network of customers. The transit expertise that has been at the core of LETH‘s success will continue to be the foundation for this expanded solution.
Moreover, by harnessing the comprehensive global network and infrastructure of Inchcape, the new and refined LETH offering promises to deliver unprecedented cost efficiency for its clients. Inchcape Shipping Services and LETH are excited about this promising collaboration. Together, they are poised to shape the future of the shipping industry, seamlessly connecting the world and delivering outstanding transit solutions that exemplify efficiency, progress, and exceptional customer experience.