In a joint venture formed with DFDS’s majority shareholder JL-Fondet, Danish logistics and freight-forwarding company DSV has bought a 25 per cent stake in the ro-ro and container giant.
The deal between DSV and JL-Fondet means the two companies will jointly own Vesterhavet-DSV, a newly formed joint holding company that will own 56 per cent of DFDS. There have been no plans made to integrate the businesses of DSV and DFDS.
According to the joint venture, DFDS and DSV will now be able to better develop and utilise the ro-ro network of DFDS, increasing freight volumes of both companies and moving more of that volume onto its ships from the road.
Both companies support automotive shipments in the Baltic and North Sea regions.
This latest move follows DSV’s recent purchase of Belgium’s ABX Logistics and it has already hinted at further acquisitions in the North European market.
DFDS recently cut 71 UK terminal handler jobs at its Immingham hub after it was hit by a downturn in the automotive, building and steel sectors.