IMS was horizontal integrated and designs, builds, owns and operates its fleet of vessels.
In the 1960s Skaugen entered the Norwegian Bulk Carrier Pool and during the 1970s the company co-founded Royal Caribbean Cruise Line.
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 when it merged with Laboremus and Kosmos Shipping.
Skaugen had lost an important partner and had to look for additional financing, but after months of negotiation refinancing failed.