Wilhelmsen Ship Management and MPC Capital have agreed to acquire 100 % of the company Zeaborn Ship Management. The acquisition is the next milestone in the partnership between Wilhelmsen and MPC Capital and their shipmanagement joint venture Wilhelmsen Ahrenkiel Ship Management and tanker specialist Barber Ship Management.
Zeaborn manages a fleet of around 100 vessels, which are managed from offices in Hamburg, Limassol, Singapore and Manila.
After the integration of Zeaborn, the combined activities will continue to operate under the brand names of Wilhelmsen Ahrenkiel and Barber, respectively.
The joint activities will be co-headed by managing directors Dr Michael Silies and Michael Brandhoff. Silies has been with MPC Capital since 2003 and has headed Wilhelmsen Ahrenkiel since 2020. Brandhoff has been managing director of Zeaborn since 2021.
The closing of the transaction is expected for Q1 2024 and is subject to approval by the relevant antitrust authorities. No price details have been revelead.
Speaking with Splash, Carl Schou (pictured), Wilhelmsen Ship Management’s president, said consolidation in shipmanagement was vital to stay relevant.
“We are seeing there is a lot more consolidation and with the latest regulation requirements the sector is moving beyond nuts and bolts management. In order to manage all of this you need certain economies of scale and a global footprint,” Schou said, adding: “Being in the top 10 as we are today in my subjective view you need to be there to make an impact.”
