The Danish owner says the move aims to create a simpler group structure and reduce administrative burdens.

Birgit Aagaard-Svendsen, chief financial officer at Lauritzen, tells TradeWinds the Kosan and Lauritzen Bulkers brands will continue in their respective markets.

She declines to say how much the initiative will save.

Dry Cargo and gas shipping will remain the two core shipowning activities of Lauritzen, Aagaard-Svendsen says.