UK shipbroker Simpson Spence Young (SSY) has marked its entry into the offshore sector with the acquisition of Westshore Shipbrokers in Norway.
Under the deal, Westshore will become part of SSY in Norway as part of the London-based brokers’ wider strategy targeted at the global offshore market. Financial terms have not been disclosed.
Established in 1987, the Kristiansand-based Westshore has become one of the most recognised names in the offshore space, specialising in chartering, market intelligence and sale and purchase of vessels.
Commenting on the deal, Stanko Jekov, SSY’s managing partner (pictured), said: “This acquisition marks the first step in realising one of SSY’s key strategic objectives, to become a major global player in offshore. We have ambitious plans for this market and I’m confident we can add real value in this sector.”
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