Schulte gets approval for Pronav takeover

Schulte gets approval for Pronav takeover

Hamburg-based Schulte Group has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist Pronav

Through the acquisition of Pronav, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers. At present, the Schulte Group provides full management for three LNG carriers and crew management for 21 LNG carriers. Five LNG carriers with a capacity of 173,000-174,000 cu m each and one gas supply vessel are set to join the fleet in 2018 and 2019, which will bring the number of the fully managed LNG fleet to 15.

Ian Beveridge, CEO of Schulte Group, said: “The Schulte Group is well positioned to support the growing demand in this specialised industry sector and we are constantly striving to develop our service portfolio further.”

The Schulte Group marked its entry into LNG ownership in 2014. A 174,000 cu m is currently being built at Samsung Heavy Industries in South Korea and will be delivered at the end of this year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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