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Bernhard Schulte eyeing maritime service company acquisitions

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Johann Bernhard Schulte
Bernhard Schulte is eyeing acquisitions in the maritime services sector in Singapore, as well as major growth of its ship management fleet in the Lion City.

Bernhard Schulte has room to grow in Singapore with its recent move to house most of its operations in the city in the newly acquired Bernhard Schulte House in which the company has invested some SGD60m ($44m). The company has been in Singapore since 2000 with its ship management business, and 2012 established a shipowning presence as well.

“Lately shipowning projects have not been as easy as they used to be so our focus will be service projects and Singapore has proven to attract a lot of service companies,” Johann Bernhard Schulte, told 200 guests at the official opening reception on Thursday evening.

The company has made three acquisitions in the service sector in recent times including underwater inspection, repair and maintenance firm DM Services Group and ship chandling business Everise Ship Supply. 

“As it looks as if we have many more possible acquisitions in the pipeline and we hope Singapore delivers in that sense,” he said.

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The group has over 100 ships under full management through Bernhard Schulte Shipmanagement in Singapore, and some 40 owned ships flying the Singapore flag.

“We expect to add further ships under the Singapore-flag, we expect to grow the ship management fleet tremendously,” Johann Bernhard Schulte, the fifth generation of the German family-owned business stated.

He also hopes that the new office building in Singapore will prove an attractive workplace for future employees, describing the eighth floor where the reception took place as “almost Google-like”.

“I like the combination of traditional with modernity, so it has an industrial look, but also has a shipping character. It also represents well our company and our values."

The new office houses 300 staff from across the group. 

“This building is attractive and we hope it will attract many young talents,” he concluded.

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