Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.
The culture at Hamburg Süd is born at the intersection of independence and an anchorage in the habits of a German industrial dynasty, among these not to open the doors to the public. With Maersk Line's acquisition, one question in particular becomes pertinent.
German software firm Hanseaticsoft, a specialist in digital solutions for the shipping sector with customers including UASC, will move in with partner Lloyd's Register at the latter's offices in Copenhagen. Read on to learn why.
Rickmers Holding is still working to settle a new restructuring after the company filed for insolvency at the court in Hamburg last week. The company's insolvency is "a blow to the German maritime cluster," says the German Shipowners' Association.
MPC Container Ships adds another three container ships to the company's growing fleet. With the latest acquisitions, the newly-established shipowner now owns 11 feeder vessels, all geared towards the feeder market.
There are no real values of note in the German shipping sector right now, according to Lloyd Fonds. The company is scaling down its investments in the segment and would prefer to be on the sideline of what CEO Torsten Teichert describes as the endgame in Hamburg.
A new buyer has entered the field as potential buyer of HSH Nordbank, according to the German business media Handelsblatt. The bank has been put up for sale after years of poor results, in particular due to its shipping investments.
Bondholders are uncertain about the rescue plan proposed by German shipping company Rickmers Group aimed at securing continued operations. The plan includes Chairman Bertram C. Rickmers surrendering control of parent unit Rickmers Holding.
Offen Group and a German insurance company inject fresh capital into struggling Marenave Schiffahrts. The shipowner thus buys more time in the efforts to dodge a looming insolvency. Fleet divestments could still be necessary.
Even though Commerzbank has been working for years to reduce its shipping portfolio, the sector hit the bank hard again in 2016, resulting in considerable loss provisions, shows the bank's annual report.
A union organizing numerous Hamburg Süd employees now lists four concrete conditions for Maersk Line. Most significant seems to be a job guarantee for the employees at the German carrier. But there will be layoffs, projects analyst.
Maersk Line's acquisition of Hamburg Süd tarnishes the German self-image during hard times as the country's shipping industry is already under pressure, says professor and maritime economist Urlich Malchow, who calls the acquisition "emotionally and symbolically very sad for Hamburg."
Several north German repair yards by the North Sea are forming a new alliance by the name of German Dry Docks Group with the intention of optimizing utilization of their docking facilities in Bremerhaven and Cuxhaven.
Major German shipping bank HSH Nordbank is optimistic about the prospects of finding a potential buyer for the bank, which will begin a privatization process this year with a deadline in February 2018.
Asset manager Ernst Russ AG is now stepping forward as a major shareholder in struggling German Marenave. Ernst Russ owns a little over one fifth of the shares in the Hamburg-based company, which is currently trying to ward off bankruptcy.
German shipyard Flensburger Schiffbau-Gesellschaft (FSG) plans to save millions of euros through a large-scale cost savings plan which will include wage reductions and firings. The plan ensures full financing for the orderbook, which includes two RoRo vessels for DFDS.
Major German shipping bank Commerzbank, also Germany's second-largest bank, will lay off close to 10,000 of the bank's total 45,000 full-time employees. Commerzbank's non-performing shipping loans are largely to blame for the bank's crisis, reports Reuters.
Bremen-based shipyard group Luerssen will acquire Blohm+Voss in Hamburg which has since 2011 been owned by UK-based equity fund Star Capital Partners. Luerssen now owns six shipyards in northern Germany with 2,800 employees.