Swire Shipping Pte Ltd, a leading operator of liner shipping services in the Asia-Pacific and around the globe, announced that its affiliate, SSPL US Inc., has signed a definitive agreement to acquire US-based Westwood Shipping Lines Inc., from J-WeSco Ltd, a subsidiary of The Sumitomo Warehouse Co. Ltd. The acquisition complements Swire Shipping’s growth strategy to widen its liner network while also vertically integrating many of its shipping services with first- and last-mile land services. Swire Shipping currently owns a multi-purpose fleet providing a wide range of specialist customer solutions for containerised, project, heavy lift, breakbulk and mini-bulk cargoes.
Founded in 1980, Westwood services the Transpacific trade as a first- class multipurpose operator dedicated to Japan, Korea and China markets to and from Pacific Northwest. It is headquartered in Puyallup, WA. Jeremy Sutton, Chief Operating Officer, Swire Shipping, said after the closing of the acquisition, Westwood will continue to provide its current services with its strong team of professionals in Japan, USA, Canada, Korea, and China. Senwa Maritime Agency, Ltd., will also continue to serve as Westwood’s general agent in Japan, along also with Hyop Woon International Co., Ltd., its long-term agent in Korea. The acquisition is subject to regulatory approval and the satisfaction of customary closing conditions.