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Broström – still going strong after 145 years

The history of Broström begins in 1865 when Axel Broström embarks on his long shipping career with the purchase of the galleass Mathilda. In 1890 he established what turned out to become the parent company of the Broström Group, “Ångfartygs AB Tirfing”, located centrally in Gothenburg, a location that was to be kept for more than a century.
 
Axel’s son, Dan Broström, turned out to be talented within shipping and quickly gained a leading role in the company, establishing the “Swedish American Line” in 1915. Over the years Broström continued to expand into barge companies like “Röda Bolaget” and “Neptunbolaget”, liner companies like “Swedish Orient Line” and “Swedish East Asiatic Company” as well as the Gothenburg shipyard “Eriksberg” that was a very successful industry during the 1940-60’s. From 1949 to 1973 during the management of Dan-Axel Broström, Axel’s grandson, Broström experienced its greatest years in the top of the Swedish shipping industry. However, when the shipyard crisis hit Gothenburg in 1974 it was the start of the decline for the family company Broström.
 
What followed in the 1990s and the beginning of the 21st century were a number of joint ventures and purchases. In 1992 “Broström Rederi AB” was bought by “United Tankers”, a joint venture between the “Shipinvest AB” owned “Western Tankers”, and “Erik Thun AB” tanker division. The valuable brand name Broström was carried forward.
 
In 1995 “Vopak” (Van Ommeren & Pakhoed) became part-owner of Broström. When Broström was listed on the stock exchange in 1998 the company purchased both Vopak’s tanker fleet including an office in Paris as well “Iverships” with fleet and offices in Norway and Singapore. In 2001 Broström again took full control of the company, purchasing Vopak’s part of the shares.
 
Broström continued to grow partly by ordering new fully owned vessels but also by attracting other ship owning companies as partners. In 2005, Broström acquired the Danish shipbroker “Nordtank” adding intermediate tankers to the fleet. Two years later Broström bought the “Petroship Group”, adding nine vessels to the fleet, all based in Singapore.
 
On August 27th 2008, the Maersk Group announced a public offer for all shares in Broström and in January 2009 the European Union sanctioned the merger. This was the beginning of many changes with some partners leaving Broström, but in June the new organisation was set. All tankers under 25,000 dwt, whether Broström or Maersk Tankers, are now trading under the Broström name from the head quarters in Copenhagen. Today Broström is a market leader in North West Europe with a modern tanker fleet of which the majority is ice-classed.
 
For further information on business opportunities or partnerships please contact Chartering Director Lars Sprogoee Bentzen.