Oslo investment house Ness, Risan and Partners (NRP) has acquired bulker and boxship technical manager Hammonia Reederei from its German owners, Ernst Russ and Peter Dohle.
The company's two founding shareholders said NRP had teamed up with the former owners of Finnish container line Containerships, which was bought by CMA CGM last year, to buy their stakes.
The German owners had 31.37% each of Hammonia Reederei, which also manages multipurpose ships.
It was set up in 2003. Clients include Mediterranean Shipping Co, Zim, Borealis Maritime and Zeamarine and its website shows more than 40 vessels under management.
"With the transaction, Ernst Russ follows its strategy and further focuses on activities in asset investment and asset management in shipping and real estate," Ernst Russ said.
Dohle has moved technical management for its fleet in-house, but remains a service provider for Hammonia in chartering, crewing and insurance.
The owner of Containerships was Container Finance of Finland.
NRP broadens its scope
NRP, which has been contacted for further comment, was previously involved in the setting up of Arne Blystad's asset-play project Songa Container, which acquired a number of vessels in under-the-radar deals and retains an appetite for further expansion, TradeWinds reported.
In December, NRP purchased a 2011-built, 19,000-dwt heavylift ship, which was chartered for eight years on a bareboat basis to US Patriot Shipping, with Lorentzens Skibs as the manager.
The investment house said last year it was targeting further growth via established shipping funds, given its positive outlook for the market.
Advisor Nicolai Heidenreich said at the time that it was seeking to double its invested capital within five to seven years while paying annual dividends of 5% to 8%.
Investments in bulkers, feeder containerships and product tankers, but not offshore, were on the cards.
The company’s shipping funds had an interest in 24 vessels worth a combined $300m at the end of the first half of 2018.
It had previously announced its involvement in the 93,000-dwt bulker Talia (built 2011) with W Marine.
In April 2018, it concluded a deal to buy two more handysize bulkers from Nordic Hamburg.
Asset manager Ernst Russ administers a fleet of about 100 boxships, tankers and bulkers, as well as other vessels.
They are either actively managed or are managed as fund ships by shipping partners.
Dohle was founded in 1956 and owns and manages containerships, bulkers and MPPs.
