Germany's United Heavy Lift (UHL) is plotting its next stage of growth in partnership with a foundation linked to Bremen businessman Kurt Zech.

The Hamburg-based company has sold 50% of its heavylift, breakbulk and project cargo operator business to the Gustav Zech Stiftung, a foundation based in Liechtenstein.

The deal comes as the shipping company is taking delivery of 17 multipurpose (MPP) newbuildings to be operated on long-term contracts with Chinese lessors.

Lars Rolner, senior advisor and founder of UHL's parent company United Shipping Group, said the partnership is part of the company’s tradition of teaming up with strong partners.

“I’ve always looked at partnerships,” he said. “That is why we’ve had the growth we have had — we were not able to do that on our own — we’ve done it with partners. —

“And we have made a deal with Zech Stiftung that they will take 50% share in UHL, which we see as a good strong partner for us.”

The Zech foundation will be a silent investor and will leave the existing team to manage the company.

Rolner said there are no other backers in UHL.

“That’s a significant difference between us and the others, we don’t have debts,” he said.

The move marks the re-emergence of the Zech name in a sector that it exited a year ago with the insolvency of Bremen-based operator Zeamarine.

Zech was the main backer of the ill-fated Zeamarine, which was originally intended to operate the 17 Eco-Lifter F900 newbuilds.

But the 13,000-dwt vessels will now be commercially managed by UHL on 14-year leases with CSSC Leasing in China.

Cash-in on containers

The 10th vessel in the series — the UHL Faith — was delivered on 18 January from the CSSC shipyard in Hudong, China.

It was the first of eight remaining newbuildings.

The first nine ships were delivered in 2018 and 2019.

Unusually, the UHL Faith has been deployed on its maiden voyage carrying a cargo of containers.

It is scheduled to arrive in Hamburg in February with a cargo of 460 containers of 40-foot equivalent unit, according to Alphaliner.

While the vessels are not designed to carry containers, the booming market makes it possible for MPP vessels to carry them.

“Looking at containers, it’s fast, it’s easy and it’s good money,” Rolner said.

He is confident of finding employment for the remaining five vessels that scheduled for delivery this year and the final two in early 2022.

“We don’t expect any free meals," he said. "But we have a big advantage because these ships are very economical.”

Their average consumption is 20 tons of fuel per day, but it is possible to reduce that to 12 to 14 tons, he said.

“If you compare that with other vessels in the market which are very old, our consumption is half,” he said.

Lars Rolner, founder of United Shipping Group and United Heavy Lift. Photo: United Shipping Group

Rolner added that the offshore wind sector is creating demand for project cargo and MPP vessels.

That has given UHL a role for a large offshore wind project for German engineering firm Siemens offshore of Taiwan.

“There’s a lot of cargo in the market right now,” Rolner said. "We feel that the market has got better. And with these ships we are fortunate to have a huge intake.”

The vessels have a weather deck length of 123.5m and width of 25.6m, as well as two combinable 450-ton cranes.

New vessel acquisition

Partnerships such as the one with the Zech foundation are seen as key to the growth of the United Shipping Group.

A similar deal with Fred Olsen Ocean (FOO), which owns a 50% stake in United Wind Logistics (UWL), led to orders for two deck carriers.

The 10,000-dwt BraveWind and BoldWind (both built 2020) were delivered last year from China’s Jiangsu Zhenjiang Shipyard.

Rolner said UWL recently acquired a third ship — the 10,000-dwt VestVind (built 2016) — which had previously been on charter.

He said the companies of the United Shipping Group operate as different business centres in different markets.

Last year, the outfit formed United Heavy Transport (UHT) as agents for a fleet of five purpose-built semi-submersible heavy transport vessel for Guangzhou Salvage.

The core of the group remains UHL, which operates with about 28 vessels from 10,000 to 82,000 dwt.

UHL has been expanding its network and having recently open a new office in Houston, Texas.

“We are well prepared for the next big step on our company’s exciting journey,” Rolner said.