Hartmann finds buyers for AHTS fleet

Hartmann finds buyers for AHTS fleet

Breakwater Capital and Hayfin Capital Management have bought into 11 anchor handling tug supply vessels from Hartmann Group, which has been going through a dramatic fleet pruning exercise as part of its restructuring.

Following the deal, full shipmanagement of the fleet remains with the former owners, Hartmann Group, with Hartmann Offshore continuing the technical-nautical operations and UOS (United Offshore Support) managing the commercial side.

“We’re delighted to have agreed this investment which secures a clean balance sheet and the long-term capital required to provide stability and the potential for growth in the future”, commented Andre Groeneveld, managing director of UOS. “With strong assets, long-term partners and experienced management, we feel well-positioned to deliver a reliable, competitive and technically advanced service to the market”, he added.

The delivery of the 11 vessels is scheduled to be completed by the end of November. The financial terms of the transaction were undisclosed.

As part of its restructuring Leer-based Hartmann sold seven feeder boxships this July to the UK’s Tufton Oceanic, while last year it sold its multipurpose fleet, Feederlines, to a new Dutch outfit. A number of bulkers have also been sold.

The German shipping line was founded by Captain Alfred Hartmann in 1981. With a fleet of more than 150 vessels it is one of the biggest names in German shipping today. The diversified fleet comprises gas tankers, product tankers, bulk carriers, container vessels, multipurpose ships, offshore support vessels and cement carriers.

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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