Fibria Cellulose S.A. and Saga Welco AS

Fibria Cellulose S.A. and Saga Welco AS have entered into an agreement for transportation of wood pulp from Brazil to worldwide destinations. The agreement is a Contract of Affreightment for about 3.5 mill mts of wood pulp annually, starting in 2016.

Fibria is the world’s largest manufacturer of market wood pulp with a production capacity of 5.3 mill mts per year.

Saga Welco AS and its shareholders have been active in the international break bulk/forestry market since 1964 and 1991 respectively. The Saga Welco pool currently operates 52 Open Hatch vessels in the worldwide bulk and break bulk carrier markets and offer its customers significant transportation capacity, flexibility, high sailing frequencies and a multitude of port combinations.

“The contract awarded us by Fibria Celulose S.A. will provide the Saga Welco Pool with a stable cargo base in the years to come. We are very pleased being selected by Fibria Celulose S.A., and are looking forward to becoming Fibria’s largest service provider for transportation of their wood pulp,” says Lars Traaseth, Saga Welco’s CEO/President.

Saga Welco AS is the Manager of the Saga Welco Pool. The Pool participants are Saga Shipholding (Norway) AS owned by NYK controlling 32 vessels, and Westfal-Larsen Shipping AS owned by Masterbulk Pte. Ltd owning 20 vessels.