Hansa Hamburg Shipping Launches Investment Fund

Tuesday, December 07, 2004
Hansa Hamburg Shipping International announced the launch of its latest fund issue, Margara mbH & Co. KG. The fund is available for subscription immediately and offers prospective investors the opportunity to invest in a state-of-the-art, highly versatile, double-hull Panamax tanker.

"We are pleased to offer our investors an exciting capital investment opportunity with a planning horizon of around 14 years", explains Hansa Hamburg director Erich Schlegel. According to Schlegel, given the tanker's attractive purchase price and the favourable long-term market fundamentals, the fund is well-positioned for an above-average return on investment.

Investors have the option of subscribing to the 2004 or 2005 tranches of the ordinary capital, the preference capital, or a combination of all three. Limited partners in the investment fund can expect returns of 8% p.a. in 2005, rising to 20% in 2017. The investment object, the "MARGARA", is a state-of-the-art, double-hull Panamax tanker with a tank volume of over 80,000 cubic meters and a carrying capacity of 71,345 tdw. It operates fully laden at a service speed of 14 knots, has special-purpose tank coatings and is built to the IC ice-class specification for operation in light ice conditions. And, thanks to its double-hull structure, the vessel complies with the IMO's stringent safety standards.

Margara was built at the 3. Maj shipyard in Croatia under the supervision of the American Bureau of Shipping (ABS) and went into service in 1999. Today, it is jointly managed and operated by Hamburg-based Jacob Tankschiffahrt GmbH & Co. KG and Ernst Jacob GmbH & Co KG.

The 'KG-model' investment fund partnership Margara mbH & Co. KG was established in 2003 and acquired the "Margara on November 20, 2003. Since then, the vessel has been in service worldwide under a five-year time charter agreement with the Malta-based Doria Shipping Company Ltd., a member of the Scorpio group. The charter ends in 2008.

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