Norddeutsche Reederei H Schuldt became the latest in a long line of German shipping names to pass into the annals of history late last year.

A change of name to V.Ships (Hamburg) meant the disappearance of a company moniker that had been on the Hanseatic shipping scene for 150 years.

The rebranding last November was the latest statement of ambition from global shipmanager V.Ships that it was building its presence in the container shipping sector.

Staff had been preparing for the move since October 2018, when a deal was hatched between Bernd Kortum's investment company Norddeutsche Vermogen Group and London-based shipmanager V.Group, whereby V.Group took a majority stake in the shipping company.

Most of 2019 was focused on integrating an existing V.Ships office in Hamburg with the former Norddeutsche fleet, which comprises 45 containerships up to 8,000 teu.

As part of the transaction, 35 vessels owned by Norddeutsche Vermogen Group were transferred to Northern Shipping Holding, a new stand-alone structure.

Those vessels were combined with a fleet including 13 tankers from an existing operation, V.Ships Germany, and the two companies are now managed as one from the V.Ships (Hamburg) office.

Signal of intent

The expansion of its German operation is regarded as a signal of intent by the world’s largest shipmanager to grow its footprint in the containership sector.

V.Ships is arguably better known for its activities in the tankers and bulkers sectors. But V.Ships (Hamburg) managing director Nils Aden said its Hamburg office will be by far the largest container office in the V.Ships world.

“The idea of Hamburg is to combine the strength of V.Ships as a third-party shipmanagement company with the owner's view of Norddeutsche — a more traditional Hamburg company — and to lift those abilities up as a platform for third-party growth,” he said.

“In 2019, we have spent quite a bit of time getting that integration. But this is finally the foundation for third-party management going forward. A first step on a longer way to grow this office.

“It’s not just the change of making the former NRS [Norddeutsche Reederei H Schuldt] a third-party manager, but bringing these philosophies forward.”

The Hamburg office is also the operations base for V.Group's shipmanagement activities, which are headed by group managing director Franck Kayser.

Kayser is well known in the container shipping world, with a background in companies including Maersk, CMA CGM, United Arab Shipping Co, NileDutch Africa Line and The Containership Co.

“It’s a good signal to have him here as global head," Aden said. "It’s a signal that this is an important office.

“This is a longer story to build up a stronger container presence. If you look strategically at V.Ships, it’s something we weren’t that strong on. We have a strategic location and something we want to build on.

“We want to develop further. We look at classic organic growth. And not only Hamburg, but globally when there’s a good fit, an option to look at things.”

That growth plan is easier with the global resources of V.Ships, which Aden said had the advantage of having offices around the world.

“I still believe that consolidation makes sense," he said. "A global organisation needs to be large enough to be local. It’s a big advantage to be on site.”