Wednesday, September 1, 2010

Dubai Group Take Over Finnish Ship Agency

GAC Buy Out John Nurminen Navis Oy
Shipping News Feature

UAE – FINLAND - Under an agreement signed on 31st August Dubai logistics giants GAC acquired John Nurminen Navis Oy (JNN) with the intention of strengthening its services in the Baltic Sea region. Handling annually up to 3,000 ship calls at all major Finnish commercial seaports, directly through its own offices, in Helsinki (head office), Porvoo, Kotka, Turku, Naantali and Rauma and the company’s comprehensive network of sub-agencies, JNN is one of the top three ship agencies in Finland in terms of market share.

Erland Ebbersten, GAC Group Vice President – Europe, Mediterranean, Black and Caspian Sea, and Africa, feels JNN’s standing in the local market and strong client-base of major international and domestic shipping and chartering principals made it an ideal candidate for acquisition to help drive GAC’s development strategy in the Baltic Sea region saying:

“JNN is strongly represented in key sectors such as oil tankers, chemical carriers, dry bulk, and cruise ships. These are all areas where GAC is strong globally, so this acquisition makes perfect sense to help us continue to thrive in the long term.”

JNN were part of the John Nurminen Group which can trace its history back to its formation in Rauma in 1886 currently with business interests including fine art logistics services, nautical charts sales, property development, ship agency services in Finland, and ‘clean-tech’ venture capital investing.

The addition of Finland to the GAC network boosts the Group’s growing presence also in the Nordic region, which has steadily grown since its majority stake acquisition of Ole R Olsen in Norway in 2007, followed by an alliance formed with Pole Position AS in Spitsbergen last year and the opening of new offices in Bergen and Sandnessjoen during 2010. GAC wish to continue expansion in the area to meet a growing range of client needs, particularly those in the oil and gas sector where the search for new sources is continuing to progress further north.

Photo: Rauma Port