Norden strengthens its position in southern Africa with the acquisition of Taylor Maritime’s cargo activities, which were previously operated under the IVS brand. The agreement includes, among other things, the takeover of an experienced parcelling team in Durban, which will continue to serve customers on the region’s parcel trades.
According to Jan Rindbo, CEO of Norden, the acquisition is an important step in the shipping company’s strategy to expand its global presence within bulk and project cargo:
“With a fleet of over 400 ships, we want to expand the business in the region and offer customers even more flexible solutions,” he states in a press release about the acquisition.
The Durban office will become Norden’s third office on the African continent, where the shipping company is already present in Ivory Coast and Gabon. The region is assessed to have significant growth potential, not least due to the growing mining sector and several fast-growing economies. A local presence is considered crucial for building close relationships with customers and partners.
The acquisition is the third in a row from Norden and follows the takeover of Thorco Projects in 2023 and Norlat Shipping in 2024. Both are today integrated into the business unit Freight Services & Trading.
Jan Rindbo calls the expansion an important boost to Norden’s parcelling strategy and a step towards an even more customer-centric business.
The purchase price is not disclosed, but the transaction does not affect the shipping company’s expectations for the 2025 result, and the purchase has obtained the necessary competition authority approvals.
-emte
