ShippingWatch

Why owner Wedell-Wedellsborg sold Nordana Project to Rickmers

Danish shipping group Weco got almost 20 years as an operator in the multipurpose market. In an interview with ShippingWatch, Chairman Johan Wedell-Wedellsborg explains why it was time to think outside of the box and sell Nordana Project to German Rickmers-Linie.

With the sale of Nordana Project & Chartering to Rickmers-Linie, Johan Wedell-Wedellsborg, Chairman of the Danish shipping group Weco, streamlines the business and withdraws as an active player in the multipurpose market. The reasoning behind the divestment of the segment after almost two decades includes a desire to focus the business and remove an area which has been struggling for a long time.

"It has been a sluggish market for a long time, and we have a different exposure, so I don't think we should fret over it anymore. Going forward, we will focus more on tanker, bulk and of course liner, as we have done for many years," he tells ShippingWatch in an interview.

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