January 27 - Earlier this month, Cayman Islands-based Siem Kapital has acquired full ownership of Norway-based Partner Shipping.

This will provide Partner Shipping with a sound basis for future development and expansion within the Siem Industries Group, said the company.

Following the acquisition, Partner Shipping will change its name to Siem Car Carriers and come under the umbrella of the existing group vehicle transportation activities which include the ownership of two modern car carriers.

The group car carrier activities, which will then comprise a fleet of five car carriers (two owned and three chartered), has agreed with Praxis Logistics to continue the co-operation operating in the Pacific, (NAPA Service).

The NAPA service also handles OOG wheeled heavy lift shipments such as helicopters and leisure craft.