The Grimaldi group takes over the port of Wallhamn

The Italian Group completed the purchase of the remaining 50% in the Swedish port. Eukor Car Carriers Inc entered a long term contract to continue to make use of the port

The Grimaldi Group has completed the full take over of the port of Wallhamn, the only private port in Sweden. The operation is part of a strategy aimed at continuously strengthening the Group’s maritime-related activities and involved the purchasing of 50% of the shares of Wallhamn Holding AB, the company that owns the port, from Eukor Car Carriers Inc.

The purchase was completed by Grimaldi Compagnia di Navigazione S.p.A., the Group parent company. As a part of the deal, Eukor Car Carriers Inc. entered a long-term agreement committing to use the port of Wallhamn for its trades

A multi-client port, Wallhamn lies on the Tjörn island and it is strategically located as it serves both for imports and exports trades the whole Western part of Sweden as well as the South Eastern part of Norway. It features a 712-metre long berth while the terminal area and warehouses total 500,000 square metres.

The Grimaldi Group and Eukor jointly purchased the port in 2005 from the Municipality of Wallahmn, since then some 120 direct jobs have been created at the port while they have been completed investments worth millions euros. The port of Wallhamn is mostly used for import/export of new cars and industrial vehicles as well as ro-ro and project cargo. The 2008 throughput at the port was 125.000 cars, 8.500 ro-ro units, 6.000 containers.

Services provided at the port of Wallhamn do include a Pre-Delivery-Inspection services for vehicles as well as body shop works for commercial vehicles where tailor-made service cars are manufactured accordingly to the customers requirements.

Commenting the operation, Mr Emanuele Grimaldi, the Group joint-managing director said: “Developing a range of first class, owned ports and port terminals is part of the Group’s strategy aiming at delivering to our costumers the highest standard of services. We are proud of what Wallhamn has become since we bought the original 50% stake in it. The increase of the Group’s interest to 100% will have a positive impact in terms of operating results and profits generated. Wallhamn is the demonstration on how private ownership of the ports can generate employment and wealth for the region surrounding it.”.

The port of Wallhamn is called by the Grimaldi Lines’ weekly Euromed Service to the Mediterranean and it is also the hub port for the BalticEuroMed Service jointly operated by Finnlines and Grimaldi Lines. This latter service offering an unique weekly ro-ro connection between Russia, Finland, Northern Europe and the whole of the Mediterranean destinations served by the Group for the transport of cars, any kind of rolling units as well as containerised and project cargo.