Norddeutsche Vermögen Group and V.Group have signed an agreement for Norddeutsche Reederei H. Schuldt to join V.Group. At the same time, the combined company will form a partnership for commercial management with Blue Net Chartering.
The transaction represents a major step in delivering consolidation of commercial and technical management in the container segment in Germany, underpinning V.Group’s ambition to drive the transformation of the industry and to be the leading global provider of marine support services.
Norddeutsche Reederei is one of the leading players in the Hamburg market with 150 years of history, managing a container fleet of 46 vessels, representing 229.847 TEU. The current Norddeutsche Reederei team will continue to manage the fleet out of the present premises in Hamburg, and will be joined by V.Group’s existing Hamburg-based technical management team. As part of V.Group’s continued growth plans, further investment will be made to create a center of excellence for the management of global container fleets.
As part of the transaction 35 vessels currently owned by Norddeutsche Vermögen Group will be transferred to Northern Shipping Holding in a new standalone structure. The structure was established with the support of the financing institution and brings together the expertise of the world’s largest technical manager, V.Group, the existing ship manager, and Hamburg’s exclusive chartering brokers, Blue Net Chartering, to optimize the fleet’s financial performance.
The transaction is subject to certain closing conditions including antitrust approval.