Ernst Russ seeks to derail Marenave’s restructuring

Ernst Russ seeks to derail Marenave’s restructuring

Ernst Russ has moved to take control at fellow German owner Marenave. Ernst Russ is seeking to put its CEO Jens Mahnke on Marenave’s supervisory board, while demanding that Klaus Meyer steps down at Marenave. Ernst Russ finds itself competing with another German owner Claus-Peter Offen to seal Marenave’s future.

Ernst Russ has also sought to derail Marenave’s restructuring plans which were announced in June, trying to cancel the company’s bid to issue bonds as well as moving to nix Marenave’s capital reduction scheme. Marenave has already sold off its entire fleet with the exception of tankers, Mare Atlantic and Mare Pacific.

A shareholders’ meeting is scheduled for September 15.

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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