I.M. Skaugen () or IMS was 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, also referred to as liquid petroleum gas (LPG or LP gas), is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, Butane, ''n''-butane and isobutane. It can also contain some ...

(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 fac ...

crude oil Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring u ...

and

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

(LNG). IMS was horizontal integrated and

designs A design is the concept or proposal for an object, process, or system. The word ''design'' refers to something that is or has been intentionally created by a thinking agent, and is sometimes used to refer to the inherent nature of something ...

, 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 Isak Martinius Skaugen (17 August 1875 – 26 December 1962), was a Norway, Norwegian businessperson. He was a sea captain by profession. In 1916 in Risør he founded the shipping company which still exists under the name I. M. Skaugen. His sons S ...

founded D/S-A/S Eikland. After

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

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 ...

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 region encompassing the coast, coastline where the Eastern United States meets the Atlantic Ocean; it has always pla ...

to the

Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...

. In the 1960s Skaugen entered the

Norwegian Bulk Carrier Pool Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe *Norwegians, both a nation and an ethnic group native to Norway *Demographics of Norway *Norwegian language, including the two ...

and during the 1970s the company co-founded

Royal Caribbean Cruise Line Royal Caribbean International (RCI), formerly Royal Caribbean Cruise Line (RCCL), is a cruise line founded in 1968 in Norway and organized as a wholly owned subsidiary of Royal Caribbean Group since 1997. Based in Miami, Florida, it is the Lis ...

. 1982 saw the founding of

Norwegian Gas Carriers Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe *Norwegians, both a nation and an ethnic group native to Norway *Demographics of Norway *Norwegian language, including the two ...

along with four other shipping companies. In 1988 the company sold its partial ownership in Royal Caribbean Cruise Line and bought the conglomerate

Kosmos Cosmos generally refers to an orderly or harmonious system. Cosmos or Kosmos may also refer to: Space * ''Cosmos 1'', a privately funded solar sail spacecraft project * Cosmic Evolution Survey (COSMOS), a Hubble Space Telescope Treasury Project ...

. Two years later the company was listed on the

Oslo Stock Exchange Oslo Stock Exchange () (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, derivatives and fixed ...

when it merged with Laboremus and

Kosmos Shipping Cosmos generally refers to an orderly or harmonious system. Cosmos or Kosmos may also refer to: Space * ''Cosmos 1'', a privately funded solar sail spacecraft project * Cosmic Evolution Survey (COSMOS), a Hubble Space Telescope Treasury Project ...

. 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