More container sector consolidation as Norddeutsche Reederei joins V.Group
Norddeutsche Reederei is one of the leading players in the Hamburg market with 150 years of history, managing a container fleet of 46 vessels, representing 229,847 TEU
The 150-year-old German company, which manages a fleet of 46 vessels totalling almost 230,000 TEU, will continue to run the fleet from its present Hamburg premises but will be joined by V.Group’s existing Hamburg-based technical management team. The combined company will form a partnership with Blue Net Chartering for commercial management of the vessels.
As part of the deal, 35 vessels currently owned by Nordeutsche Vermögen Group will be transferred to Northern Shipping Holding in a new standalone structure. In a statement, the companies said that the structure has been established with the support of the financing institution (unnamed) and that the deal would bring together the expertise of V.Group, the world’s largest technical manager and Blue Net Chartering to optimise fleet performance.
V.Group CEO Ian El-Mokadem, commented that the acquisition of Norddeutsche Reederei enables V.Group to strengthen its position as the global leader in marine support services. “Norddeutsche Reedererei’s highly experienced team will significantly enhance V.Group’s expertise in the management of container vessels to the highest quality level,” he said.
The transaction is subject to certain closing conditions including antitrust approval.
