Bremen-based Zeaborn continues to be a driving force of consolidation in the heavylift sector. The four-year-old company has just signed a deal to merge much of its business with Houston-based Intermarine.
Maritime Holdings Delaware, parent company of Intermarine, has entered into a joint venture agreement with Zeaborn. The joint venture entity, Zeamarine, will include the transfer of assets and operating entities from Zeaborn´s commercial activities as well as Zeaborn-owned Rickmers Line and Maritime Holdings-owned Intermarine.
The shareholders of the newly-formed Zeamarine will also commit to fund new capital to grow the joint venture. Zeaborn will serve as the majority shareholder. The joint venture will have more than 75 vessels and is expected to exceed 100 vessels by year-end. The execution of the transaction is subject to antitrust clearance.
The Zeamarine joint venture management team will include Ulrich Ulrichs and Nicki Schumacher from Zeaborn; and Andre Grikitis, Frank Fischer and Michael Dumas from Intermarine. The agreement includes the consolidation of vessel fleets, staff, and the global network of customers and offices.
“Each respective entity brings unique value to the joint venture,” said Ove Meyer, managing partner of Zeaborn. “Intermarine has a strong reputation out of the United States into South America and is a leading project cargo player out of Asia; Zeaborn brings a strong presence in Europe and Asia.”
