Canada Feeder Lines has bought a 20% slice of Scan-Trans following a rapid turnaround in the fortunes of the Danish owner.

CFL will also hand over commercial management of six vessels to Kim Vestergaard-Hansen-led Scan-Trans as part of the pact agreed today.

Vestergaard-Hansen is keeping quiet about how much the Dutch firm paid for its stake.

He said: “You have to bear in mind Scan-Trans has moved from red figures last year to black figures this year and is showing some strength.