HCI Group Takes Over 13 Feeder Containerships
The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU, with an average age of nearly ten years. Deutsche Bank AG will be refinancing part of the portfolio. The parties have agreed not to disclose the purchase price for the vessels. In its role as general manager, the HCI Group has outsourced technical ship management to three providers within the north-German maritime cluster. Commercial ship management will be coordinated by the HCI Group and carried out by experienced partners.
HCI Capital Acquires Ernst Russ GmbH
HCI Capital AG acquires the long-established Hamburg shipping company Ernst Russ GmbH & Co. KG. The HCI Group, which early in 2016 already the majority of the shares of König & Cie. Group had taken, thus expanding again the controlled fleet and strengthen its maritime services division. This HCI consistently pursued the strategic positioning as an asset and investment manager with a maritime focus. The Ernst Russ GmbH & Co. KG is one of the oldest, internationally known Hamburg shipping companies and has existed since 1893. They bereedert a fleet of seven container and four RoRo ships and has different interests. These include the Combi Trade GmbH, an international shipyard mediation, and participation in the chartering broker Ernst Russ Shipbroker GmbH & Co. KG.
Finnlines Discusses Financial Prospects
The Finnlines Group recorded net sales totalling EUR 450.9 ($402.4) million. was EUR 45.8 ($42.3) million. The profit before extraordinary items was EUR 35.7 ($33.2) million. 2.5%. Imports of unitised cargo, including transit traffic, rose roughly 5%. unitised cargo destined mainly for Russia via Finland increased 31% on the same period last year. In April Finnlines acquired 68.2% of Team Lines GmbH & Co. companies Johannes Ick, Mathies Reederei GmbH and Ernst Russ GmbH & Co. ownership in the company was 31.8%; after this deal Finnlines owns the company 100%. sales of Team Lines in 2000 were EUR 100 million and the operating profit was EUR 1.2 million. balance sheet amounted to EUR 14 million at 31 December 2000. million. Europe. Its time-chartered fleet consists of 22 container vessels.
