Lauritzen Bulkers Buys Canadian Breakbulk Firm and Looks to Positive 2025

 

Denmark’s Lauritzen Bulkers, one of the oldest operators tracing its roots back 140 years, reports it has acquired Alexander & Blake, a Canadian breakbulk and parcel shipping company. The deal comes as the company looks to rebound from what it called “unpredictable and complex market conditions,” in 2024. 

Alexander & Blake is a Canadian-owned and operated shipping company. Its main activities are in the breakbulk and parcel service segments, with clients and core trades in the North and South American markets. The company was started in 1990 to focus both on breakbulk and dry cargo.

“The discussions we have in the past months with the Alexander & Blake team have confirmed to us their excellent competencies and how they will add value to Lauritzen Bulkers' global shipping services from day one,“ says Rasmus Francis Jensen, Vice President, Chartering and Lauritzen Bulkers Parcel Service.

David Linden, founder and CEO of Alexander & Blake cited a very good fit between the Alexander & Blake values and the corporate culture, commercial mindset, and customer focus of Lauritzen Bulkers. The company will continue as Alexander & Blake - by Lauritzen Bulkers with Lauritzen Bulkers continuing the breakbulk and parcel service offering under the future brand name Lauritzen Bulkers Parcel Service.

Lauritzen Bulkers said during its year-end financial report at the end of February that it expects a positive net result for 2025 after seeing earnings decline dramatically to $17.9 million in 2024. It cited numerous underlying challenges commercially and operationally in 2024 including the draft restrictions at the Panama Canal and the de facto closure of the Red Sea due to the Houthi attacks. The company said it looks to increase business activity across its segments, regions, and trades.