Wilhelmsen Ship Management has strengthened its position in the tanker market with a newly signed agreement to acquire a majority stake in Hamburg-based Ahrenkiel Tankers, according to the company's release.
The transaction will result in Wilhelmsen Ship Management taking over the management of five tankers. Wilhelmsen Ship Management will gain 80% ownership of Ahrenkiel Tankers under the deal, with the remaining 20% to be held by existing owners MPC Capital Group. Ahrenkiel Tankers will be rebranded as Barber Ship Management.
It marks the first step by Wilhelmsen Ship Management after its earlier decision to re-enter the tanker segment following a decade-long absence, while also reviving the Barber name that originally formed the basis for the company’s present ship management business.
Wilhelmsen Ship Management was originally named Barber Ship Management Ltd when it was first incorporated in Hong Kong in 1975.
Wilhelmsen Ship Management exited the tanker market in 2009 with the sale of its former subsidiary International Tanker Management (ITM) but reversed this decision two years ago due to an improved regulatory regime for tankers.
Barber Ship Management will now serve as Wilhelmsen’s new specialised management arm for the tanker segment following the transaction, effective from 1 January this year.
About Wilhelmsen Ship Management
Wilhelmsen Ship Management, a Wilhelmsen group company, is one of the world’s largest third-party ship managers with a portfolio of 450 vessels in management and more than 10,800 seafarers. Wilhelmsen Ship Management provides technical and crew management services for various vessel segments; LNG/LPG, Ro-Ro and PCC/PCTC, Container, Cruise, Bulk, and Offshore. Wilhelmsen Ship Management manages from eight offices worldwide and has a crewing network of 10 manning offices in 10 countries. Other key services include dry docking services, lay-up services and new building supervision.
About MPC Capital Group
MPC Capital is an internationally active asset and investment manager specialising in real asset investments. The company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital's long-standing experience in the shipping industry combines operational expertise with project financing and conceptual competence.