ForestWave takes over Symphony Shipping and its Ecobox MPP fleet

ForestWave takes over Symphony Shipping and its Ecobox MPP fleet

Two of the acquired vessels: mv Symphony Provider (DP2) and Symphony Atlantic (Ecobox XL) in Antwerp beginning JanuaryForestWave

ForestWave has expanded its owned fleet with the acquisition of Symphony Shipping and its eight Ecobox vessels. The fleet has now grown to 24 units totalling 248,197 dwat, which includes three newbuildings scheduled for delivery in the coming two years. 

As part of the transaction, ForestWave is also set to take over the ship management activities of Symphony Breda, as well as the company’s staff. It is also a step towards the company’s goal of being carbon neutral by 2050, which Symphony’s young MPP fleet.

The vessels will continue to be commercially operated by ForestWave’s wholly owned subsidiary Schulte & Bruns Nederland. With offices in Groningen, Breda, Hamburg, Newcastle, and Vigo, ForestWave/Schulte & Bruns is well positioned to continue to serve its excellent client base in the Forest-, Offshore-, Project- and Wind-Industry.

The acquired fleet consists of eight modern open top, one box hold, geared MPPs. This includes four 10.500 dwat Ecobox vessels, one 12.500 dwat Ecobox XL, and one Ecobox XL newbuilding scheduled for delivery in June 2023, all with Finnish/Swedish ice class 1A and two DP2 Ecoboxes.

This, together with the Symphony Sea and Sun, acquired from Symphony Shipping in December of 2021, and two Ecobox XL ordered by ForestWave in May 2022, brings ForestWave’s fleet of Ecobox-type to 12 vessels. All of these vessels have a green passport and their EEDI is one of the lowest in the MPP sector. This means that ForestWave is well prepared for the future in sustainable shipping, the company’s statement reads.

Under the agreements, Jari van Niejenhuis, present Managing Director of Symphony Shipping, will become part of the Board of Directors of ForestWave, next to Fred Diepeveen, Managing Director and Ric Nijhout, Financial Director.

Author: Adnan Bajic

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