Wilhelmsen acquires majority stake in Ahrenkiel Tankers

Wilhelmsen Ship Management (WSM) has taken a majority 80% stake in Hamburg-based Ahrenkiel Tankers and will take over the management of five tankers a pat of the deal. The move marks the re-entry of WSM into the tanker sector after ten years.

The company, first established in Hong Kong in 1975, was originally called Barber Ship Management. Now, Ahrenkiel Tankers has been re-branded as Barber Ship Management and is providing specialist management services for Wilhelmsen with effect from January 1st.

Carl Schou, CEO and president of WSM, commented: “This acquisition is a clear statement of our intent to expand in the tanker segment. Ahrenkiel Tankers has developed a strong reputation for reliable tanker management and represents an ideal fit with Wilhelmsen Ship Management given our common values of environmental responsibility and safety, aligned with a high level of competence.

“The tanker market is a very different sector today from what it was more than a decade ago,” he continued, “in terms of quality and safety, with much better regulation on the competence side, and this has given us the confidence to mark our re-entry into the business with this key acquisition.” The remaining 20% stake in the company is held by existing owners of Ahrenkiel, MPC Capital Group.