I.M. Skaugen () or IMS is a

shipping company A shipping line or shipping company is a company whose line of business is ownership and operation of ships. Shipping companies provide a method of distinguishing ships by different kinds of cargo: # Bulk cargo is a type of special cargo that is ...

that operates within petrochemical gases and

liquefied petroleum gas Liquefied petroleum gas (LPG or LP gas) is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, propylene, butylene, isobutane and n-butane. LPG is used as a fuel gas in heating appliances, cooking e ...

(LPG) and

lightering Lightering (also called lighterage) is the process of transferring cargo between vessels of different sizes, usually between a barge (lighter) and a bulker or oil tanker. Lightering is undertaken to reduce a vessel's draft so it can enter port facil ...

crude oil Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...

and

liquefied natural gas Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volu ...

(LNG). IMS is horizontal integrated and

designs A design is a plan or specification for the construction of an object or system or for the implementation of an activity or process or the result of that plan or specification in the form of a prototype, product, or process. The verb ''to design'' ...

, builds, owns and operates its fleet of vessels. The company also owns Norgas and Skaugen PetroTrans.

History

The company dates back to 1916 when Isak Martinius Skaugen founded D/S-A/S Eikland. After

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

Skaugen and

Sven Salén Sven Gustaf Salén (7 November 1890 – 29 October 1969) was a Swedish sailor who competed in the 1936 and 1952 Summer Olympics. In 1936, together with his wife Dagmar Salén, he won a bronze medal in the mixed 6 m class as the helmsman of the b ...

founded the joint venture Salen-Skaugen Line that offered passenger and

cargo liner A cargo liner, also known as a passenger-cargo ship or passenger-cargoman, is a type of merchant ship which carries general cargo and often passengers. They became common just after the middle of the 19th century, and eventually gave way to conta ...

service from the

United States East Coast The East Coast of the United States, also known as the Eastern Seaboard, the Atlantic Coast, and the Atlantic Seaboard, is the coastline along which the Eastern United States meets the North Atlantic Ocean. The eastern seaboard contains the coa ...

to the

Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...

. In the 1960s Skaugen entered the Norwegian Bulk Carrier Pool and during the 1970s the company co-founded

Royal Caribbean Cruise Line Royal Caribbean International (RCI), also formerly known as Royal Caribbean Cruise Line (RCCL), is a cruise line brand founded in 1968 in Norway and organised as a wholly owned subsidiary of Royal Caribbean Group since 1997. Based in Miami, Flori ...

. 1982 saw the founding of Norwegian Gas Carriers along with four other shipping companies. In 1988 the company sold its partial ownership in Royal Caribbean Cruise Line and bought the conglomerate Kosmos. Two years later the company was listed on the

Oslo Stock Exchange Oslo Stock Exchange ( no, Oslo Børs) (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway’s only regulated markets for securities trading today. The stock exchange offers a full product range including equities, deriv ...

when it merged with Laboremus and Kosmos Shipping. The Kosmos shuttle tanker operation was at the same time spun off in Skaugen PetroTrans. Shipping companies of Norway Tanker shipping companies Gas shipping companies Transport companies established in 1916 1916 establishments in Norway Companies listed on the Oslo Stock Exchange

Bankruptcy

At the end of 2018, I.M. Skaugen went into bankruptcy. Skaugen had lost an important partner and had to look for additional financing, but after months of negotiation refinancing failed. The shipping company had no other choice than to file for bankruptcy. {{Norway-shipping-company-stub