Further acquisitions or partnerships remain an option for fast-growing Zeaborn Ship Management. The company tells TradeWinds that it sees potential for further consolidation in the shipmanagement market as players seek “solutions” to managing fleets.
We are convinced that a fleet of around 250 ships can be managed sensibly in every regard
Zeaborn Ship Management says the 150 vessels for which it provides full technical management now consist of 96 containerships, 41 bulkers and 13 multipurpose (MPP) vessels.
"We are convinced that a fleet of around 250 ships can be managed sensibly in every regard,” says Zeaborn Ship Management in an email reply to questions, reaffirming earlier comments of its fleet growth ambitions. "In this respect, size plays a central role going forward.”
The company emerged from the acquisition of Rickmers Shipmanagement in September 2017 and ER Schiffahrt in February of this year, and brought them together under a common brand.
It forms part of real-estate entrepreneur Kurt Zech’s Zeaborn GmbH & Co KG (Zeaborn Group), which includes Zeaborn Shipowning as an investor of MPP vessels and responsible for newbuilding programmes.
Zeaborn Ship Management says that while planning to grow organically, further acquisitions are possible, although some market sources question whether it has the depth of manpower skills to underpin such rapid growth.
Also part of the Zeaborn Group is Zeaborn Chartering, which is involved in the liner business through Rickmers-Line. The German group is also involved in the tramp business via Zeaborn Chartering and Intermarine, which came together recently under the Zeamarine title.
Zeaborn Ship Management says the Zeamarine joint venture has brought the group a step closer to its ambition of building a commercially managed fleet of at least 100 MPP vessels.
Activities of Zeaborn Ship Management are not part of Zeamarine.
Changes to management
In October, it was announced that Ulrich Ulrichs was leaving Zeamarine’s management line-up at the end of December to pursue other opportunities. Ulrichs has for many years been chief executive of Rickmers-Line.
When ER Schiffahrt and Rickmers Shipmanagement’s activities were consolidated in August, the newly created Zeaborn Ship Management employed around 300 people ashore and roughly 4,550 at sea.
All employees of Zeaborn Ship Management in Germany are now located in one office.
We have created a very strong basis that enables us to take on more business
Zeaborn Ship Management chief executive Nils Aden says in a recent company magazine article that ER Schiffahrt and Rickmers Shipmanagement were an ideal fit in terms of cultural heritage and set-up.
Fleets were similar and operations were spread ideally between Hamburg, Singapore, Shanghai and Manila.
“All will be retained, expanded and are essential for future development,” said Aden.
Newly-formed Zeaborn Crew Management is located in the Philippines and Romania.
“We have created a very strong basis that enables us to take on more business with the newly combined set-up and the two strong, strategic pillars in Europe and Asia,” he said, a reference also to Zeaborn Ship Management Singapore.
Aden, who says the company will never grow for the “sake of creating growth”, describes Zech as a “strong, solid owner in the background who secures and supports the group’s further growth”.
