Schulte To Buy LNG Ship Manager Pronav
Hamburg-based shipowner Schulte Group announced January 9 it has signed a contract to acquire 100% of the shares in LNG ship manager Pronav.
It said the transaction, which is subject to approval of the German federal cartel office (Bundeskartellamt), would put it "in a strong position to further exploit ship owning and ship management potential in the growing LNG market." Schulte declined to disclose purchase price. Pronav shares are being sold by five individuals, including co-managing directors Karl-Wiegand Braun and Vili Vrenko.
Schulte, which operates worldwide, owns about 100 vessels (mainly container, tanker, bulker) and manages 600 vessels in all segments. Pronav, also based in Hamburg, is an internationally known ship manager specialised in large LNG tonnage. Schulte Group said it is currently providing management services for 23 LNG carriers and has one LNG bunkering vessel and one 174,000 m3 capacity LNG carrier on order which will join the Schulte fleet in 2018. (The photo of the 'al Safliya' tanker is courtesy of Pronav.)
Update: Schulte announced February 12 2018 it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist Pronav. Schulte added that its owned 174,000 m³-LNG carrier being built at Samsung Heavy Industries yard in South Korea shall be delivered at end-2018 and will be time-chartered for a minimum of 15 years to a Japanese trading house, and will be Schulte-managed.