Major German tanker players set up CST/DS Shipmanagement joint venture

The new joint venture will operate as a further maritime service provider and absorb the ship management activities of Dr. Peters Group (DPG) subsidiaries DS Tankers and DS Schiffahrt.

The headquarters of the joint venture will be in the premises of Chemikalien Seetransport (CST) in Hamburg.

CST, founded in 1969, brings indepth know-how in the management of LNG, chemical, product and crude oil tankers as well as bulk carriers to the company. This know-how is supplemented by the many years of experience in the technical management of crude oil tankers and dry ships of the DPG subsidiaries DS Tankers and DS Schiffahrt.

Independently of the joint venture, CST as well as DS Tankers and DS Schiffahrt will continue to exist as independent companies.

CST states it will continue to expand its market position as one of the leading German tanker shipping companies with a current fleet of 40 tankers and bulk carriers.

DS Tankers and DS Schiffahrt will also continue to fulfil selected contracts that were concluded before the joint venture was founded. In addition, DPG will continue to be active in chartering and crewing through its subsidiaries.

CST chairman Christian Krämer said, “We are looking forward to working with Dr. Peters Group and are pleased to expand the managed fleet by our group with the foundation of this joint venture. DS Tankers and DS Schiffahrt have an excellent reputation for the technical management of crude oil tankers and other vessels such as bulk carriers and MPPs, complementing our group very well.”

Dr. Peters Group chief executive officer Kristina Salamon commented, “We have been driving the strategic realignment of our shipping activities for around a year and a half. By joining forces with Chemikalien Seetransport and the establishment of a joint venture, we have brought together skills, experience, and very good employees. This creates a new, strong ship manager with potential for new business and thus for the expansion of the fleet that is managed by CST/DS Shipmanagement GmbH.”

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