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Bore Line to focus on ro-ro

Finnish shipping company Bore Ltd of Helsinki has announced that it is giving up its general cargo contract affreightments (CoA) business as of 2015.
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The move is part of Bore Line’s “renewal through divestment” strategy. This is focused on the ro-ro sector, where Bore Line wants to strengthen its position.

Bore said that overcapacity in the conventional shipping market has led it to take this decision. The small size of its CoA fleet has proven uncompetitive against larger players in the tough general cargo CoA market, stated the company.

Bore has today announced that it is selling its fleet of six CoA vessels. FINGARD and SWEGARD are in a sales process with expected delivery by the end of October. Bore’s 1A ice-class compass vessels NORDGARD, SYDGARD, WESTGARD and OSTGARD have been sold to Royal Wagenborg with expected delivery by the end of December. Nordkalk has agreed on a frame contract with Wagenborg covering the majority of its sea freight (ca. 1.5 Mt of limestone) from 2015 to 2017.

Bertel Karlstedt, Nordkalk CEO, said: “Supply chain management, logistics solutions and shipping are important for Nordkalk. We are pleased to have signed a three-year contract with Wagenborg. Thanks to its large fleet of over 180 general cargo vessels, Wagenborg can offer flexible and efficient sea-freights for Nordkalk and its customers.”

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