Singapore-based Wilhelmsen Ship Management will acquire a 50% stake in Ahrenkiel Steamship GmbH & Co, a technical container ship manager within the Hamburg-based asset and investment manager MPC Capital Group
The joint venture will operate under the brand Wilhelmsen Ahrenkiel Ship Management and is part of Wilhelmsen and MPC Capital’s agreement to combine their activities in the technical management of container ships.
The company will continue to operate in Hamburg and Rhoon supported by Wilhelmsen’s global network. With around 100 employees, the new company will manage a fleet of 72 container ships with a focus on feeder container ships with a capacity of 1,000 to 3,000 TEU.
Dr Michael Silies, who has served as the head of Ahrenkiel Steamship since 2015, will become managing director of the joint venture. Jan-Eric Panitzki will continue in his role as chief operating officer and oversee the operational part of the business.
Wilhelmsen president and chief executive Carl Schou said “We believe Ahrenkiel Steamship is a good fit as we share many common values; focusing on quality, heritage and at the same time have ambitious goals to utilise digital technology to enhance and improve operations. We are looking forward to developing a strong track record together in the container segment through this partnership.”
MPC managing director Christian Rychly said “We are very pleased to have Wilhelmsen at our side as a strong partner with whom we can consistently expand our shipping activities. We want to offer the best services to our clients and Wilhelmsen’s network and expertise in other shipping segments will improve our position in the container segment.”
The completion of the transaction is subject to approval by the European and national antitrust regulatory agencies.