Eidsiva Rederi Explained

Eidsiva Rederi ASA
Type:Public
Foundation:1930
Location:Oslo, Norway
Key People:Jørgen G. Heje (CEO)
Per Ditlev-Simonsen (Chairman)
Area Served:Global
Industry:Shipping
Revenue: NOK 279.6 million (2006)
Operating Income:NOK 83.6 million (2006)
Net Income:NOK 47.9 million (2006)
Homepage:www.eidsiva.no

Eidsiva Rederi is an international shipping company based in Oslo that operates nine car carriers and four Ro-Ro vessels in addition to two other ships. Among the chartering companies are Hyundai and DFDS Tor Line.

History

The company was founded as Sverre Ditlev-Simonsen & Co in 1930 by Sverre Ditlev-Simonsen and listed on the Oslo Stock Exchange the same year. It started out as a dry cargo and tanker operator. In the 1970s the company entered the offshore sector, operating a number of semi-submersible drilling rigs. In 1990 the offshore subsidiary SDS Drilling was sold to Ross Offshore Group that was later acquired by Transocean. The company then ventured into the handysize bulk market, and entered a cooperation with B. Skaugen Shipping and Fednav Group and along with other companies established the pool Trinity Bulk Carriers. In 1996 the Heje family took a larger ownership in the company.