Maritime CEO

Hansa Treuhand: KGs biding their time

Hamburg: The death of KG funds might have been called a tad prematurely if our regular Friday shipowner profile is anything to go by. Hermann Ebel is the co-founder of Hansa Treuhand, a big name in German shipowning with 70 ships in the fleet chartered out to many of the top containerlines. On top of the 70 there’s another seven wide-beam container vessels ranging in size from 4,800 to 7,000 teu to deliver from Chinese shipyards through to the end of 2014.

While admitting there are no plans to launch any new shipping funds at the moment as investors have little interest, Ebel tells Maritime CEO: “As soon as charter rates will increase to the amount that makes vessels earn money again and enable profit distributions to the investors, their interest in the KG model will renew.”

The worst is over, Ebel maintains, although charter rates especially for sub-panamax-sizes are still at levels to low to pay out interest and to amortize debts. However, many vessels have been scrapped and the orderbook is at its lowest level since 2003. “Thus, the foundations for improvement are set, although 2013 will still remain difficult,” he cautions.

On lessons learnt during the downturn, Ebel reflects: “Hindsight is easier than foresight. However, it is true that too many vessels have been ordered in the past. Some of us ought to have known better.”

While waiting for better times to return to container shipping the 1983-founded Hansa Treuhand is keeping itself busy financing airplanes, something it got into in 2009 as box shipping nose dived.  [02/08/13]

 

NEED TO KNOW:  Hansa Treuhand
Founded in Hamburg 29 years ago the KG house now has a fleet of 70 ships plus seven on order, mainly containerships, but also reefer vessels, gas and oil tankers as well as cruiseliners. In 2009 it got into airplane financing.

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