German logistics giant Rhenus has swooped to take a 40% stake in compatriot Arkon Shipping, an owner with 119 ships to its name made up of smaller boxships, mini bulkers, handy bulkers and heavylift ships.
The two companies have formed a new investment vehicle Rhenus-Arkon-Shipinvest with a view to expanding Arkon’s fleet.
“For Rhenus, European short sea shipping is part of their service offerings. Arkon’s experience in the formation of ship pools has made the company one of the market leaders in European short sea shipping. We want to consolidate this position together, “said a senior official from Rhenus, a company with an annual turnover of more than EUR4bn.