Ahrenkiel takes eight off HSH Nordbank’s books

Ahrenkiel takes eight off HSH Nordbank’s books

Hamburg: HSH Nordbank has continued its offloading of distressed container assets via its Nautilus financing model. Hamburg-based Ahrenkiel Steamship has acquired eight boxships with an average age of seven years. No price was mentioned in the deal.

The ships are four 4,300 teu vessels and four feeders ranging in size from 1,300 to 2,500 teu.

“The acquisition of the eight vessels strengthens our position in the container market,” said Constantin Baack, managing sirector of Ahrenkiel Steamship. “We expect to see growing consolidation in the shipping markets. We at Ahrenkiel Steamship have set ourselves the goal of actively participating in this phase and raising our competitiveness even further.”

Under the Nautilus financing model, HSH Nordbank remains involved in the new structure via a part of the credit amount.

HSH Nordbank said it expects further Nautilus transactions in 2015.

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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