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Ernst Russ News

14 Mar 2023

Eimskip, Ernst Russ JV Acquires Secondhand Containership

(Photo: Eimskip)

A joint venture between Eimskip and Ernst Russ AG has acquired a secondhand containership. Financial details of the transaction were not disclosed.The vessel, to be named Bakkafoss, was built in 2009 and has a slot capacity of 1,025 TEU.Scheduled for delivery in the second quarter of 2023, the vessel will be chartered out to Eimskip for a period of up to three years, serving the company's North American route.With this investment, the partners are expanding their portfolio of operated ships…

24 Oct 2019

Ernst Russ Buys Box Ship

The Ernst Russ Group has acquired a 700 TEU geared container ship in cooperation with a strategic partner.German-based company which manages a fleet of around 80 container, tanker and bulker ships as well as other vessels said that the successful acquisition of the vessel strengthens its strategic position in the market and further expands the Ernst Russ Group fleet.The 700 TEU container ship, MV ‘Skogafoss’ was built in 2007 and is in a good technical condition. It has been operating on the North-Atlantic shipping routes to date and will be delivered into a charter with the Icelandic liner company Eimskip.The value of the transaction will not be disclosed.

04 Mar 2019

Peter Döhle Sells Hammonia Reederei

Hamburg-based provider of shipping services Peter Döhle and Ernst Russ are selling ship management company Hammonia Reederei  to  Scandinavian investors, Ness Risan and Partners (NRP), a Norwegian investment fund and former owners of Containerships Group, Finland.With the transaction, Ernst Russ follows its strategy and further focuses on activities in asset investment and asset management in shipping and real estate, said a release from Ernst Russ AG, a listed asset and investment management company in Germany with a focus on maritime business.Prospectively, Peter Döhle Schiffahrts-KG bundles the fleet’s technical management in-house…

05 Feb 2019

Team Lines Stops Operations

Hamburg-based feeder operator Team Lines, which belongs to the Belgian Delphis Group,   will close down its business.The deteriorating market conditions in Northern Europe combined with the ongoing consolidation process in the maritime sector are said to be the reason why the Hamburg-based container feeder operator Team Lines Deutschland ceases its business operations from February 11, 2019.In a circular, the shipping company announced that In a circular, Team Lines Deutschland GmbH & Co. KG decided to discontinue all activities of Team Lines with effect from February 11th. The feeder shipping company also informed the customers and…

20 Mar 2018

Ernst Russ Sells Marenave Schiffahrts Stake

German asset and investment manager Ernst Russ Group has sold its stake in Marenave Schiffahrts AG, a shipping company in Germany. "The focus of the Ernst Russ Group’s work was on restoring the business activities and realigning Marenave Schiffahrts AG in the maritime sector. This was concurrent with the strategic approach of Ernst Russ Group and offered potential to enter into a successful partnership," said a statement from the company. After acquiring a larger block of shares in January 2018, Deutsche Balaton AG held a total of 21.34 % of all shares. The differing views of both major shareholders, Ernst Russ Group and Deutsche Balaton AG…

06 Oct 2017

Ernst Russ Acquires Ships Financed by ABN AMRO

The Ernst Russ Group has successfully completed another transaction and acquired two container ships with capacities of 2,450 TEU and 2,785 TEU and an average age of just under 12 years. Global Transportation & Logistics provided financing to Ernst Russ. Purchase price for the two container ships is undisclosed. The transaction was structured and carried out by Ernst Russ Maritime Management GmbH & Co. KG as the maritime asset manager of the Ernst Russ Group. A company within the northern German maritime cluster has been given responsibility for the technical management of the ships. Another experienced partner will be in charge of chartering.

12 Apr 2017

KVH Debuts Connectivity as a Service Offering

KVH Industries, Inc. has launched a new all-inclusive Connectivity as a Service (CaaS) offering for the maritime industry, AgilePlans by KVH. For a single monthly fee, AgilePlans by KVH brings an advanced satellite communications solution onboard without a costly capital expenditure or long-term commitment. The subscription fee is as low as $499/month for a complete package including hardware, connectivity, installation at select ports, entertainment and training content and global support. The AgilePlans by KVH subscription model is designed to deliver everything a fleet needs for better communications and improved operational efficiency at sea.

25 Jun 2016

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory Board put the proposal to the shareholders’ meeting as one element of the corporate strategy to strengthen the maritime services segment and position the company as an asset and investment manager with a maritime focus. The future business model, in which the Group offers its services as a one-stop shop covering the entire value chain, was presented to the shareholders at the general meeting. The Group is no longer solely dependent on its previous business model of raising and managing funds.

21 May 2016

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.

23 Apr 2016

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.

01 Sep 2014

Gibdock Rreputation Rises in German Market

Gibdock has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent client list reads like a ‘Who’s Who’ of leading German shipowners and managers, underlining the fact that it enjoys a very positive reputation in this particular market. German owners and operators that have recently docked vessels at Gibdock include Oscar Wehr, Reederei üngerhans, E.Oldendorff, Peter Döhle Schiffahrt, Brise Bereederung, Asterion Tankers, Ahrenkiel, OPDR, Hans Peterson, John T. Essberger, Reederei Draxl, Columbia Shipmanagement, Thien & Heyenga, and Interorient.

14 Dec 2011

GL: Five Stars for Ernst Russ

(from left to right): Dirk Lange, Germanischer Lloyd, Stefan Bülow, Reederei Ernst Russ, Jan Stahmer, Reederei Ernst Russ, and Matthias Ritters, Germanischer Lloyd, at the presentation of the "GL Excellence - 5 Stars" Certificate.

The shipping company Ernst Russ strives continuously for the highest quality, safety and environmental standards in shipping; in recognition of this it has now been awarded the "GL Excellence - 5 Stars" certificate by classification society Germanischer Lloyd (GL). Ernst Russ Managing Director Mr Stefan Bülow and Mr Jan Stahmer, Health, Safety, Environment und Quality Manager, were presented with the firm's certificate by GL this week, making the Hamburg shipping company only the ninth ship-owner in the world to receive this prestigious award.

07 Oct 2011

Ecospeed: Ending Rudder Cavitation Damage Problems

Founded in 1893 Ernst Russ is a Hamburg based, family owned shipping company. For close to 120 years, Ernst Russ has been offering customers the highest standards in ship management. The company has a fleet of ten vessels including five ro-ro cargo ships. Due to their higher propeller revs, the rudders of these ro-ro cargo vessels suffered particularly from cavitation damage. Grzegorz Girjat is Superintendent of Ernst Russ, responsible for the five ro-ro ships. Those ships were built in 1999. The rudders were originally coated with a standard epoxy coating.

15 Sep 2011

Ernst Russ Ends Rudder Cavitation Problems

Founded in 1893 Ernst Russ is a Hamburg based, family owned shipping company. For close to 120 years, Ernst Russ has been offering customers the highest standards in ship management. The ER Fleet Manual, introduced by Ernst Russ long before international standards were developed, is continuously updated and exceeds all standard requirements and regulations. The company has a fleet of ten vessels including five ro-ro cargo ships. Due to their higher propeller revs, the rudders of these ro-ro cargo vessels suffered particularly from cavitation damage.

29 Oct 2001

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.