Germanys Ahrenkiel seeks investors

Ahrenkiel spokeswoman Steffi Karsten told The Motorship on 26 August that “against the background of an unprecedented crisis in shipping we intend in future to master existing challenges along with a partner and jointly”. She added that no details of those involved in current ongoing negotiations would be revealed until there was “something to report”.

Ms Karsten’s comments came after German media, led by the respected Frankfurter Allgemeine, reported that the financially-troubled Hamburg-based group was in the process of being sold off entirely or partially to investors.

Although a family owned-concern, credit banks headed by the HSH Nordbank are the de-facto owners of the Ahrenkiel group, which has been in difficulties and under scrutiny by potential investors for some time.

The latest media reports said there were believed to be three seriously interested parties, among them Erck Rickmers and his E.R. Shipping which has 140 ships.

Earlier this year Ahrenkiel sold five 2200teu fund ships for a low $30million to Betram Rickmers, the older brother of Erck. The acquisition boosted the fleet of vessels owned or managed by his Rickmers Group to a reported 97.

Ahrenkiel, founded in 1950, now has a fleet of 37, of which 17 container ships are of 2,000-4,400 teus – a sector said to be particularly hard-hit by the shipping market crisis. Total transport capacity is nearly 1.5 million dwt.

Ahrenkiel has offices in Berne, Switzerland and Limassol, Cyprus and employs some 150 people ashore and 1,100 seafarers.