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Wilhelmsen and MPC Capital acquire Zeaborn Ship Management

Singapore-based Wilhelmsen Ship Management (WSM) and MPC Capital are buying third-party manager Zeaborn Ship Management.

Paul Bartlett, Correspondent

December 21, 2023

1 Min Read
MPC and WSM acquiring Zeaborn
From left to right: Dr. Michael Silies (MD WASM), Michael Brandhoff (MD Zeaborn), Carl Schou (CEO & President Wilhelmsen Ship Management), Constantin Baack (Board member MPC Capital), Dr. Philipp Lauenstein (CFO MPC Capital)Photo: WSM

The acquisition is the latest milestone in the partnership between Wilhelmsen and MPC Capital and their ship management joint venture Wilhelmsen Ahrenkiel Ship Management and tanker specialist, Barber Ship Management, the companies said in a statement. Following the integration of Zeaborn, the combined activities will continue to operate under the Wilhelmsen Ahrenkiel and Barber brands, respectively.

Zeaborn, which has offices in Hamburg, Limassol, Singapore and Manila, manages a diverse fleet of about 100 ships and will represent a significant expansion of WSM’s business. They include bulk carriers, container ships, multipurpose vessels, and tanker.

The expanded joint ship management activities of WSM and MPC Capital, with a fleet of more than 150 ships under technical management, will continue to operate from Hamburg.

“The acquisition of Zeaborn is our strategic move to expand and strengthen our market presence in the ship management arena,” said Carl Schou, CEO and President of WSM.

“The transaction will increase our vessels in management to a size that we are confident that we can continue to deliver the best ship management services to our existing and future customers.”

MPC Capital CEO, Ulf Holländer, commented: “As a Hamburg-based company with an outstanding track record in shipping activities, we feel many overlaps in tradition and values with the Wilhelmsen group as our partner. As such, we are excited to grow our ship management platform. With the integration of Zeaborn's complementary client base and services we further strengthen our market position in the ship management business.”

Related:Wilhelmsen revives Barber brand with Ahrenkiel Tankers majority stake

The transaction is subject to approval by relevant competition authorities and is expected to close within the first quarter of 2024.

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About the Author

Paul Bartlett

Correspondent

UK-based Paul Bartlett is a maritime journalist and consultant with over four decades of experience in international shipping, including ship leasing, project finance and financial due diligence procedures.

Paul is a former Editor of Seatrade magazine, which later became Seatrade Maritime Review, and has contributed to a range of Seatrade publications over the years including Seatrade’s Green Guide, a publication investigating early developments in maritime sustainability initiatives, and Middle East Workboats and Offshore Marine, focusing on the vibrant market for such vessels across that region.

In 2002, Paul set up PB Marine Consulting Ltd and has worked on a variety of consultancy projects during the last two decades. He has also contributed regular articles on the maritime sector for a range of shipping publications and online services in Europe, Asia, and the US.

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