Eitzen Group
Corporate brand
UnclaimedEitzen Group was a Norwegian shipping and investment group whose corporate history extended from a nineteenth-century shipbroking and shipping business to diversified maritime, energy, property, and fishing-related investments.
Last updated August 31, 2026
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Overview
Eitzen Group was a Norwegian shipping and investment corporation based in Oslo. Its origins dated to 1883, when shipmaster Camillo Eitzen established the business that later became Camillo Eitzen & Co. The enterprise developed through successive partnerships, acquisitions, and expansions across several shipping segments, including dry bulk, tankers, ore-bulk-oil carriers, chemical shipping, gas shipping, and maritime services. The company’s early development was closely associated with the Eitzen family and with Captain Henri F. Tschudi, who joined as a partner in 1894. The partnership acquired its first steamship, S/S UTO, in 1895. In 1936 the business adopted the name Tschudi & Eitzen, reflecting the partnership’s ownership structure at that time. Its later expansion was driven both by organic growth and by acquisitions. The group entered the ore-bulk-oil carrier segment in 1967, expanded into bulk shipping through the 1990 purchase of Danish company Skou International, and entered the tanker sector through the 1997 acquisition of EAC Shipping and the 2001 acquisition of KIL Shipping. A significant corporate reorganization took place in 2004. Tschudi & Eitzen merged into Camillo Eitzen & Co., which was listed on the Oslo Stock Exchange. At the same time, Eitzen Holding was established as a separate company owned by the Eitzen family. That year the group purchased Navale Française and Bergesen’s Igloo gas fleet, further broadening its maritime portfolio. In 2006, Eitzen Chemical and Eitzen Maritime Services were created and listed on the Oslo Stock Exchange, giving parts of the group separate corporate identities and public-market profiles. Eitzen Group was not limited to ship ownership and operation. Eitzen Holding owned Eitzen Invest and held a 53.7 percent interest in Camillo Eitzen & Co. Eitzen Invest managed a broader investment portfolio that included real estate and other assets, as well as interests in Hydranor, Norse Energy, and the fishing industry. This structure made the group both a maritime operating business and a family-controlled investment organization. The group’s later history was dominated by financial distress. In 2011, Axel C. Eitzen stated that Eitzen Holding was heavily indebted and that he had left the company and its assets to the banks. The company was reported to have, among other obligations, approximately NOK 700 million in debt to Nordea. Eitzen Group was liquidated in 2012. It therefore represents a defunct Norwegian shipping group whose long operating history ended after debt-related restructuring and loss of control by its founding family.
History
Eitzen Group traced its origins to 1883, when shipmaster Camillo Eitzen founded a shipping business in Norway. In 1894, Captain Henri F. Tschudi joined as a partner, prompting the adoption of the name Camillo Eitzen & Co. The business acquired its first steamship, S/S UTO, in 1895. In 1936, the company became Tschudi & Eitzen. The group expanded beyond its original shipping activities during the second half of the twentieth century. It entered the ore-bulk-oil carrier segment in 1967. In 1990, the acquisition of Danish company Skou International provided entry into the bulk segment. The purchase of EAC Shipping in 1997 and KIL Shipping in 2001 expanded the group into tanker shipping. These transactions helped transform the business from a traditional shipping enterprise into a diversified maritime group with exposure to multiple vessel categories. In 2004, Tschudi & Eitzen merged and the operating business adopted the name Camillo Eitzen & Co. The company was listed on the Oslo Stock Exchange, while Eitzen Holding was established as a separate entity owned by the Eitzen family. The group also acquired Navale Française and Bergesen’s Igloo gas fleet in 2004, adding further gas-shipping capacity and maritime assets. The corporate structure was expanded again in 2006, when Eitzen Chemical and Eitzen Maritime Services were created and listed on the Oslo Stock Exchange. Alongside its shipping businesses, the family-controlled holding structure maintained investment activities through Eitzen Invest. Its portfolio included real estate, Hydranor, a significant shareholding in Norse Energy, and interests related to the fishing industry. The group’s final phase was marked by financial pressure. In 2011, Axel C. Eitzen said that Eitzen Holding had become heavily indebted and that he had left the company and its assets to the banks. The group was reported to have approximately NOK 700 million in debt to Nordea, among other liabilities. Eitzen Group was liquidated in 2012, ending the operating history of the Eitzen family’s consolidated shipping and investment group.
- 2012
Liquidation
[1]Eitzen Group was liquidated after its debt-related financial distress.
- 2011
Debt crisis disclosed
[1]Axel C. Eitzen stated that Eitzen Holding was heavily indebted and that he had left the company and its assets to the banks.
- 2006
Created Eitzen Chemical and Eitzen Maritime Services
[1]Eitzen Chemical and Eitzen Maritime Services were created and listed on the Oslo Stock Exchange.
- 2004
Reorganization and Oslo listing
[1]Tschudi & Eitzen merged into Camillo Eitzen & Co., which was listed on the Oslo Stock Exchange; Eitzen Holding was established as a separate Eitzen family-owned company.
- 2004
Expanded gas-shipping portfolio
[1]The group acquired Navale Française and Bergesen’s Igloo gas fleet.
- 2001
Acquired KIL Shipping
[1]The acquisition of KIL Shipping helped establish the group’s presence in tanker shipping.
- 1997
Acquired EAC Shipping
[1]EAC Shipping was acquired as part of the group’s expansion into additional maritime segments.
- 1990
Acquired Skou International
[1]The purchase of Danish company Skou International expanded the group into bulk shipping.
- 1967
Entered ore-bulk-oil carriers
[1]The group entered the ore-bulk-oil carrier segment.
- 1936
Name changed to Tschudi & Eitzen
[1]The company adopted the Tschudi & Eitzen name.
Products and positioning
A family-controlled Norwegian maritime group that combined international shipping operations with diversified investment holdings.
Shipping company · 1883
Camillo Eitzen & Co.
Camillo Eitzen & Co. was the principal shipping business associated with the Eitzen corporate structure. Its activities developed across several maritime categories, including bulk, tanker, gas, and other specialized shipping operations. The company was listed on the Oslo Stock Exchange following the 2004 reorganization.
Chemical shipping · 2006
Eitzen Chemical
Eitzen Chemical was established in 2006 as a separately listed group company focused on chemical shipping. The available reference material identifies its creation and listing but does not provide sufficient detail on its fleet, routes, or later corporate ownership.
Maritime services · 2006
Eitzen Maritime Services
Eitzen Maritime Services was created and listed in 2006 as a maritime-services business within the wider Eitzen structure. The available material does not specify the full range of services or its subsequent operating history.
Investment portfolio
Eitzen Invest
Eitzen Invest was the investment arm associated with the Eitzen family’s holding structure. Its portfolio included real estate and other investments, with interests identified in Hydranor, Norse Energy, and the fishing industry.
Brand decisions
2006
Creation and listing of specialized shipping businessesStrategyBackground
The group separated selected activities into specialized corporate entities.
Action taken
Eitzen Chemical and Eitzen Maritime Services were created and listed on the Oslo Stock Exchange.
Aftermath
The move gave the chemical-shipping and maritime-services activities separate listed-company identities within the broader Eitzen structure.
2004
Corporate merger and holding-company separationStrategyBackground
The group reorganized its historical Tschudi & Eitzen structure while preserving a separate family-owned holding company.
Action taken
Tschudi & Eitzen merged into Camillo Eitzen & Co., which was listed on the Oslo Stock Exchange, while Eitzen Holding was established separately under Eitzen family ownership.
Aftermath
The reorganization created a distinction between the listed shipping business and the family-controlled holding and investment structure.
2004
Acquisition of Navale Française and the Igloo gas fleetM&ABackground
The group sought to broaden its maritime activities and strengthen its position in gas shipping.
Action taken
Eitzen acquired Navale Française and Bergesen’s Igloo gas fleet.
Aftermath
The acquisitions expanded the group’s shipping portfolio, although the available source does not quantify their commercial impact.
Sources1 sources
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