The company lives on
After the bankruptcy both the banks and the official receiver become the owners of the shipping and their operations, which even so, continue in different forms. As early as 1983 Managing Director Gunnar Rosengren has formed the Argonaut AB company as an offshoot from the tanker shipping company. The same thing is done in other areas of the group. The dry cargo company, Salén Dry Cargo sells two dry cargo ships to the newly formed Monitor Shipping and the Largus Exploration company is formed to deal with part of the offshore drilling for oil that has been under the auspices of Salén Energy. Both Argonaut and Monitor are floated on the stock market. Salén & Wicander also finds new owners.
Mats Ruhne also has a similar plan in his desk drawer for his part of the group and like the Phoenix rises up from the ashes to become the world’s biggest, most modern and technically most advanced refrigerated shipping company that overnight formed Cool Carriers, that later is sold to Bilspedition in 1987.
In order to provide all the tankers that have stood still after the bankruptcy with loads until they are sold, Clarence Dybeck starts the freight company Stockholm Chartering. The company is financed by Sven Hampus Salén with one and a half million SEK. Argonaut AB puts in the same amount as does Monitor. Svenska Varv that sits on a large number of tankers with no steering and the state owned shipping company Zenit, that takes over Götaverken’s unsold ships are also a part of the fleet that is operated by Clarence Dybeck and his team.