Just a few weeks after the merger between Hapag-Lloyd and United Arab Shipping Company (UASC), the blockade of Qatar now threatens to poison the cooperation between two of the biggest and dominant shareholders in the German carrier. The blockade has had a widespread impact on shipping.
A financial restructuring of Rickmers Group could mean that owner Bertram Rickmers loses his entire stake in the storied German shipping group. One of the top symbols of German shipping power is about to fall.
The entire cluster of pure-play product tanker carriers, such as Torm, Hafnia Tankers, Singapore-based BW Pacific, US-based Diamond S Shipping, and Maersk Tankers, are in play in the consolidation wave that has been kicked off ahead of an anticipated and more sustainable recovery in 2018 in the product tanker market.
Equity fund Triton suffers big loss on Herning Shipping
With a deficit at Herning Shipping of more than DKK 500 million last year and a negative equity of almost the same level, the owner, equity fund Triton, is now trying to sell the carrier.
English Edit: Daniel Logan Berg-Munch