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>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 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

Maritime Reconnaissance and Surveillance Technology

Over the past few years, maritime intelligence gathering and ISR capabilities have returned to the forefront of the defence industry…

read more >

BWMTech

Clarify regulations. Plan BWMS integration. Prevent operational failure…

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >