LONDON : UK-based shipping servicer Inchcape Shipping Services has announced an investment for a majority stake in Leth Suez Transit (LETH) to strengthen operations.
Through the acquisition, LETH aims to use Inchape’s global network to build and enhance its solutions while bringing cost efficiency to its clients.
According to LETH, its operations will “continue seamlessly” using the same operating philosophy and team.
LETH’s expertise and approach have grown over recent years to include other critical transit areas such as the Panama Canal, the Turkish and Danish Straits, and major bunkering ports such as Singapore and Gibraltar.
Forming part of the agreement, Otto Jervell, the current CEO of LETH will remain part of the company as a part owner.
Jervell emphasised how its operations will continue: “With such an investment, we will be able to follow our strategy and take LETH to the next level, becoming the leading global transit agent.”