Hellespont Strengthens German Base

Wednesday, July 07, 2010
Phrixos Papachristidis

The Hellespont Group strengthened its global base in Hamburg, Germany, by buying out the two minority partners in its Hamburg-based shipmanagement company and reshaping its corporate organization.
The 25 percent each minority interests held by HCI Capital AG and Peter Doehle Schiffahrts KG in Hellespont Hammonia GmbH & Co KG have been bought out. Hellespont Hammonia has been renamed Hellespont Ship Management GmbH & Co KG, and is now a wholly-owned subsidiary of the Hellespont group parent company, which has been renamed Hellespont Deutschland GmbH.
Phrixos Papachristidis, Hellespont group CEO, said, "We entered the German market cautiously with the help of two good partners in 2004. Since then we have grown and established our position here in Germany, and today we have an expert German staff and strong relationships with German banks, charterers and investors. By buying out our partners we become a little more nimble and ready to move swiftly to take up opportunities that the global recovery may present. As we are currently predominantly a tanker owner we have not been as hard hit as some in the German shipping community, which had such a strong containership focus, and we are poised for growth. Hamburg has shown itself to be an excellent base from which to operate a high quality global shipping group, and we expect to grow further here as the recovery strengthens and opportunities present arise."


 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Navy: Future USS John Finn (DDG 113) Launched

The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28.  During launch the drydock was flooded allowing the

WISTA AGM to Address Emerging Shipping Challenges

WISTA USA (Women’s International Shipping and Trading Association) is putting the final touches on a high-profile speaker line-up that will headline its upcoming

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1653 sec (6 req/sec)