Germany’s Conmar Shipping KG and Athens-based Contships Management have agreed to cooperate in developing commercial and technical synergies.
The partnership could possibly include joint acquisitions of container feeder vessels in the future, a statement said today.
Together, the two companies say they operate 25 feeder ships. Conmar currently owns 10 feeders of between 735 and 1,036 teu, six of which have ice class 1A notation, according to VesselsValue.com.
Contships was formed earlier this year by Nicolas Pateras through his company Pacific and Atlantic. The company owns nine feeders of between 706 and 977 teu.
In December 2014, Contships bought DP Legacy and Tongan 2 (both 925 teu, built 2007) from Germany’s Komrowski for around $4.7m each.
“This is a key milestone in Greek-German shipping where two traditional shipping groups join forces to leverage their experience and knowledge to improve their services to their clients,” Jork-based Conmar said today.
Consolidation between small container companies could prove to be a wise move. Speaking at the Danish Maritime Forum earlier this month, South Korea’s minister of oceans and fisheries said smaller and mid-sized container shipping lines could become extinct as they are squeezed out by larger companies and the ever-increasing average carrying capacity of containerships.