Wilhelmsen Ship Management has teamed up with Hamburg-based investment firm MPC Capital by acquiring a 50% stake in Ahrenkiel Steamship, a MPC Capital subsidiary.
Once finalized, the joint venture will operate under the brand “Wilhelmsen Ahrenkiel Ship Management” and provide technical management to a fleet of 72 containerships, with a focus on feeder ships between 1,000 and 3,000 TEU capacity.
The joint venture will have around 100 employees operating out of Hamburg and Rhoon, located near Rotterdam in the Netherlands.
“We are very happy to strengthen our presence in Germany together with a strong partner like MPC Capital. 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 utilize digital technology to enhance and improve the operations. We are looking forward to develop a strong track record together in the container segment through this partnership,” says Carl Schou, CEO and President of Wilhelmsen Ship Management.
MPC says the deal will provide access to Wilhelmsen’s global network and improves its service scope and quality o ships under management.
The closing of the transaction is still subject to approval by the relevant antitrust authorities.