Höegh Autoliners and Mitsui OSK Lines (MOL) have signed an agreement whereby MOL will acquire Höegh Autoliners’ 50 percent shareholding in Euro Marine Logistics (EML).
Following the transaction, MOL will become the sole owner of EML and will as part of the agreement take over the entire operations.
Thor Jørgen Guttormsen, CEO of Höegh Autoliners says, “With the agreement in place, it will allow us to fully focus on our core business of deep sea transportation.
We thank Mitsui OSK Lines for our partnership since 2011. Over the years, Euro Marine Logistics has built a strong position in Europe and we are confident that Mitsui OSK Lines will continue to develop its business and capabilities providing the EU short sea market with an efficient network.”
Hirotoshi Ushioku, Executive Officer of MOL’s Car Carrier Division says “We will commit ourselves to maintain and serve the existing customers with EML quality service as sole shareholders of the company.
We look forward to providing an even more integrated service to our customers, covering their deep sea and short sea needs. We thank Höegh Autoliners for their support during our 8 years’ venture.”