UPM Seaways was established June 1, 1975 by the name of Oy Finnterminals Ab. The joint business venture at that time provided logistical services to the Finnish forest industry players. Finnterminals was jointly owned by Oy Kaukas Ab, Kymi Oy, A. Ahlström Oy, Enso-Gutzeit Oy, Oy Blomberg Ab and Kotka Stevedoring.
In 1986 Kaukas and Kymi Strömberg merged into Kymmene Corporation. In connection with the merger Finnterminals became a fully owned subsidiary of Kymmene. The Kymi Shipping operations were integrated to Finnterminals and sea traffic management of Kymmene was centralised in Finnterminals.
In 1996 UPM
and Kymmene merged and became UPM-Kymmene, and shortly thereafter a decision was made to concentrate all sea traffic management to Finnterminals. Consequently Finnterminals' name was changed to UPM-Kymmene Seaways Oy Ltd.
In the beginning of 2000 Seaways had offices in Kotka, Kouvola, Pietarsaari and Lappeenranta. The office network was rationalised in 2003 and all operations were centralised to Kotka. In the beginning of 2004 UPM-Kymmene Seaways Oy Ltd was merged to UPM-Kymmene.