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Major shareholder reports stake in shipowner Marenave

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 Marenave Schiffarhts informs in a brief press release that the Hamburg-based asset manager Ernst Russ AG owns 333,960 shares in the company, and thus controls 22.26 percent of the voting rights.

Marenave Schiffarhts is headed by CEO Ole Daus-Petersen and owns a fleet of dry bulk vessels and product tankers. The company has, since the summer, been working to settle a rescue plan with its lenders.

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