One of the leading names in the ship agency sector, Jardine Shipping Services, has been acquired by S5 North Europe, owned by Karel Peters. Jardine Shipping Services is one of the largest port agency operators in the Asia/Pacific region.

S5 North Europe was established in May 2014, continuing the port agency activities of Royal Burger Group. The then-newly-formed company operated from seven offices in the Netherlands, Belgium, Germany and the United Kingdom.

No financial details of the initial transaction were released.

Following the acquisition of Jardine Shipping Services, the company will have a major standing in two of the largest container shipping regions, Asia and Europe. Expectations are that the resultant company will handle more than 30,000 port calls every year and offer a new organization twice the size of the present Jardines setup, say company sources.

The transaction, which is expected to be completed by early July, means that Jardine Pacific will cease to be a shareholder.

By Paul Richardson

Sea Freight Correspondent | London