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Ernst Russ builds up stake in troubled Marenave
Troubled German line Marenave Schiffahrts has been given breathing space until January 27 by its creditors. Marenave has also revealed that Ernst Russ, formerly HCI Capital, has built up a sizeable shareholding in the line, now controlling 333,960 shares giving it 22.6% of the voting rights in the German company.
Marenave was founded in 2006 by König & Cie and HSH Nordbank although it has since changed hands twice.
Its most recent fleet list shows six product tankers, four bulk carriers, two containerships and a car carrier.