Euro Container Line acquisition a cool move for Samskip

Icelandic shortsea carrier Samskip is set to expand its presence in the Norwegian market after announcing yesterday it had completed the acquisition of Norway’s Euro Container Lines (ECL).

The seller was Norwegian shipping group Wilson, which launched the line in 1999 as part of a 50:50 joint venture with Iceland’s other shipping firm, Eimkskip.

Wilson acquired Eimkskip’s stake in 2008, after it veered perilously close to bankruptcy in the wake of the country’s exposure to the global financial crisis.

ECL owns two geared ...