Samskip has reached a deal with Norway's DSD Group to purchase the business activities of Nor Lines, bringing five multipurpose ships (MPPs) into its fleet.

The Netherlands-headquartered logistics firm and ship operator said the deal will see it pick up business that generates €110m ($128m) in annual revenue, including all but two of Stavanger-based Nor Lines' vessels. 

DSD chief executive Ingvald Loyning confirms that his company will retain ownership of the quintet and Samskip will operated them on time charter.