Feature, Freight News, Logistics, Sea

NYK Completes Acquisition of Saga Welco

[ July 24, 2026   //   Gary Burrows ]

NYK has completed its acquisition of Norway-based open-hatch vessel operator Saga Welco AS, making the company a wholly owned subsidiary of NYK Holding (Europe) B.V. after regulatory approvals.

The deal, announced in March, gives NYK full ownership of Saga Welco, which had previously been jointly owned with Norway’s Westfal-Larsen Group.

Saga Welco operates a fleet of 48 open-hatch vessels providing worldwide semi-liner services, primarily from the east coast of South America. The carrier specializes in transporting forest products, aluminum, steel, project cargo and wind energy components using multipurpose vessels designed to handle oversized and irregularly shaped cargoes.

NYK said the acquisition supports its medium-term strategy to strengthen core shipping businesses while expanding opportunities in sectors including forest products, offshore wind, high-and-heavy cargo and project logistics. The company also expects the acquisition to enhance the profitability of its dry bulk business through operational synergies and Saga Welco’s specialized expertise.

Tags: NYK, Saga Welco AS, Westfa-Larsen Group