German asset manager Ernst Russ has expanded its fleet further in the first half of 2019, and is continuing to look at other opportunities.
The company said it had made "additional important investments" in its two core areas, the other being property.
It acquired the majority shareholding in a ship portfolio comprising a handymax bulker and a 3,100-teu containership, and it also acquired a 4,200-teu unit.
Its ElbFeeder boxship joint venture already operates seven feederships which make a "significant contribution" to its performance, it said.
It was established with a "strategic partner" in 2017.
The venture has now been fully consolidated into Ernst Russ from August.
“We consider the opportunities arising from our strategy, and its optimisation on a regular basis. Our strategic partnerships, like the ElbFeeder joint venture, play a crucial role for our portfolio in this respect," said executive board member Robert Gartner.
Investments made in the first half of 2019 led to an increase in total equity and liabilities of €14.1m ($15.5m) to €117.5m.
The net loss was €0.6m, influenced by one-off effects.
The group manages a fleet of around 80 containerships, tankers, bulk carriers and other vessels.
