K Line Gets Nod to Shed Heavy Lift Subsidiary

Image Courtesy: SAL Heavy Lift

Japan’s shipping firm Kawasaki Kisen Kaisha (K Line) has received board approval to dispose of its subsidiary company, the owner and operator of heavy lift vessels, SAL Heavy Lift GmbH (SAL).

The subsidiary would be transferred to SALTO Holding GmbH & Co. KG. (SALTO), according to data provided by K Line.

The move comes on the back of a number of difficulties that SAL encountered as the company “struggled after financial crisis in 2008 and profitability of owning asset has been depressed, heavily affected by low-price in energy markets.”

After reviewing its business portfolio in mid-term management plan in 2016, K Line decided “that the best solution should be to transfer the business to SALTO.”

K Line said that it is not estimated that financial loss will be recorded in this fiscal year following the transaction.

Japan’s shipping major entered into an agreement to take 50% shares of SAL in 2007 in order to diversify its business. In 2011, K Line took all the rest of the shares and SAL became a 100% subsidiary company.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Shipping2030 Asia

This year Shipping2030 Asia will take place with Global Liner Shipping conference, offering attendees unique access to networking with the container shipping industry…

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >