Norway-based operator Grieg Star has sold its complete stake in Squamish Terminals situated near Port of Vancouver in British Columbia, Canada, to Western Stevedoring, for an undisclosed sum.
Established in 1972, Squamish Terminals is a deep-water, break-bulk terminal that offers cargo-handling services.
The 60-acre terminal is equipped with two berths and three warehouses to serve customers across North America and the globe. It primarily handles forestry products, steel and project cargoes.
Squamish Terminals chair Rune Birkeland said: “Grieg Star has been the owner of Squamish Terminals for almost half a century.
“Western Stevedoring has the right focus and expertise to further strengthen the terminal, and we are confident it is in the right hands going forward.”
Grieg Star is a unit of ship owning, managing and operating company Grieg Group.
The company currently operates a fleet of around 40 vessels to transport parcel cargo, break-bulk and dry-bulk cargo.
Western Stevedoring president Brad Eshleman said: “This acquisition strengthens Western Stevedoring’s continued commitment to the break-bulk sector in British Columbia’s Gateway and expands the service options currently provided to our customers with greater capacity for the coordination of efficient service and consolidation of cargo.”
Western Stevedoring is a wholly owned subsidiary of US-based company Carrix, which also owns marine and rail terminal operator SSA Marine.
The company currently provides stevedoring services, as well as terminal operations and logistics services across British Columbia.