Intermarine Enters Joint Venture with Zeaborn Group

Maritime Holdings Delaware, LLC, parent company of project, breakbulk and heavylift cargo carrier Intermarine, LLC has entered into a joint venture agreement with Zeaborn Group.

The joint venture entity, ZeaMarine GmbH, will include the transfer of assets and operating entities from Zeaborn´s commercial activities as well as Zeaborn-owned Rickmers Line GmbH and Maritime Holdings-owned Intermarine, LLC.

The shareholders of the newly-formed ZEAMARINE will also commit to fund new capital to grow the joint venture. Zeaborn Group will serve as the majority shareholder. The joint venture will have more than 75 vessels and is expected to exceed 100 vessels by year-end. The execution of the transaction is subject to antitrust clearance.

The ZeaMarine joint venture management team will include Ulrich Ulrichs and Nicki Schumacher from Zeaborn and Andre Grikitis, Frank Fischer and Michael Dumas from Intermarine. The agreement includes the consolidation of vessel fleets, staff, and the global network of customers and offices.