Wilhelmsen Ship Management and MPC Capital have successfully negotiated a deal to fully acquire Zeaborn Ship Management GmbH & Co. KG, a move that represents a major advancement in their collaborative efforts in the ship management sector. This acquisition serves to enhance their existing partnership, which includes the joint venture Wilhelmsen Ahrenkiel Ship Management and integrates the expertise of Barber Ship Management in tanker operations. Zeaborn Ship Management, which currently manages a fleet of around 100 vessels, has a global operational footprint with offices located in Hamburg, Limassol, Singapore, and Manila. Following the acquisition, the combined operations will continue to operate under the well-established brand names of Wilhelmsen Ahrenkiel Ship Management and Barber Ship Management. The leadership of these joint activities will be shared between Dr. Michael Silies and Michael Brandhoff. Dr. Silies, who has been with MPC Capital since 2003 and has led Wilhelmsen Ahrenkiel since 2020, will join forces with Michael Brandhoff, the managing director of Zeaborn Ship Management GmbH & Co. KG since 2021. The finalization of this transaction is expected in the first quarter of 2024, subject to the approval of relevant regulatory authorities. Carl Schou, the CEO of Wilhelmsen Ship Management, has pointed out the growing trend towards consolidation within the industry and the increasing importance of achieving economies of scale and establishing a global presence. This is particularly pertinent in light of new regulatory demands facing the maritime sector. Furthermore, CEO Carl Schou has underscored the strategic significance of being among the top 10 players in the industry to make a meaningful impact. This acquisition positions Wilhelmsen Ship Management and MPC Capital favorably within the competitive landscape, enabling them to leverage combined strengths and resources for greater market influence and operational efficiency. 23-December-2023
With the COVID-19 pandemic affecting global trade, there’s been a significant increase in demand for ship lay-up berths, and Wilhelmsen Ship Management is actively seeking new locations in Asia and Europe to accommodate this surge. Carl Schou, president and CEO of Singapore-based Wilhelmsen Ship Management, advises shipowners considering laying up their vessels due to the pandemic and the March oil price crash to act swiftly or risk missing available slots. Before the pandemic, Wilhelmsen had only a few vessels in lay-up as the shipping markets were relatively stable. For instance, in 2019, Wilhelmsen Ship Management managed just 14 laid-up ships, including offshore installations. However, recent weeks have seen a dramatic shift, with offers sent out for 50 ships, and more confirmations and requests are anticipated shortly. The demand is particularly high from segments linked to China’s trade. Since starting lay-up management in 2009, Wilhelmsen Ship Management has laid up over 200 ships, with a peak of 73 in 2017 when their main facility in Malaysia neared full capacity. They note that the ideal lay-up location is crucial for ease of reactivation. Although traditionally managing older vessels (average age 25), Wilhelmsen Ship Management is now receiving inquiries for younger, more complex ships. Current travel and crew-change restrictions make hot layups more practical while waiting for permanent cold layup locations. Wilhelmsen is utilizing its local port agency network, Wilhelmsen Ship Service, to evaluate new locations due to travel limitations. Their current facilities include Labuan, Malaysia in Asia, and southern Norway in Europe, with more locations under consideration. The main challenge lies in finding spots with sheltered waters, good anchorages, and robust shoreside infrastructure that also allows for crew changes. Wilhelmsen Ship Management has observed that many shipowners, new to the concept of laying up ships, are concerned about high reactivation costs. However, Wilhelmsen Ship Management assures that costs can be manageable with proper maintenance during the layup. Wilhelmsen Ship Management recommends using a class-certified lay-up service provider, as it can help reduce insurance premiums and ensure effective maintenance, thus minimizing reactivation costs. 19-April-2020
Wilhelmsen Ship Management, a prominent player in the ship management industry, has successfully secured a new management contract for two supramax bulk carriers from Kristin Tidemand’s Stove Shipping. The vessels involved in this deal are the MV Stove Tide and MV Stove Friend, both 57K DWT and built-in 2016, which are currently on charter from Phoenix Co of Japan. These ships will now be managed by Wilhelmsen Ship Management’s team based in Singapore. This latest agreement strengthens the long-standing partnership between Stove Shipping and Wilhelmsen Ship Management, which is part of the Oslo-listed Wilhelmsen group. The two companies have been collaborating for a decade, showcasing a strong and enduring business relationship in the maritime sector. With this new deal, Wilhelmsen Ship Management continues its growth trajectory, having secured contracts for over 40 new ships for technical management in the current year alone. This expansion reflects the company’s positive outlook on the future of the ship management industry, buoyed by improved sentiment in specific market segments. In addition to growing its presence in the managed bulk carrier fleet, Wilhelmsen Ship Management is also making strides in expanding its portfolio in the gas fleet sector. This diversification and growth underscore Wilhelmsen’s commitment to adapting to market demands and strengthening its position as a leading global ship management service provider. 14-August-2019
Wilhelmsen Ship Management, a major player in the global maritime industry, is relocating its global headquarters from Kuala Lumpur, Malaysia, to Singapore. The company has operated its headquarters out of Kuala Lumpur since 2008, employing a staff of over 200 individuals. According to Carl Schou, the CEO of Wilhelmsen Ship Management, this strategic move is aimed at bringing the company closer to its clients and burgeoning markets. Singapore’s status as a well-established maritime hub in Asia makes it an ideal location for the company. This move aligns with the industry’s ongoing shift towards digital transformation, as Singapore is recognized for driving digital innovation in the maritime sector. The relocation marks a significant shift in Wilhelmsen’s operational focus, as the company had previously moved its headquarters from Oslo, Norway, to Kuala Lumpur in 2008. However, the Kuala Lumpur office will continue to play a vital role in the company’s operations, serving as a center for shared services and back office functions to support the fleet. Initially, selected management teams from Wilhelmsen Ship Management will make the move to Singapore. This transition underscores the company’s commitment to adapting to the evolving maritime industry and leveraging Singapore’s strategic position and technological advancements to better serve its global clientele. 27-February-2018