Consolidation in the ship management sector has taken another step forward with the tie-up of two Cypriot groups.
Intership Navigation and Interorient Shipmanagement have merged their vessel management activities to form InterMaritime Shipmanagement.
The deal includes Intership’s sister company Donnelly Tanker Management.
The two companies boast more than 80 years of combined experience in the sector.
The new operation will manage a fleet of more than 170 vessels, including tankers of all types, LPG carriers, bulkers, boxships, multipurpose tonnage and various other specialised units.
InterMaritime will provide technical and crew management, procurement, catering, insurance, travel, chartering and commercial operations.
“This merger represents a significant milestone in our journey as ship manager,” Intership and Donnelly chief executive Dieter Rohdenburg said.
“The merger with our peers Interorient is a perfect match that allows us to combine our extensive experience and expertise, collective knowledge and resources, thereby enhancing our geographical footprint and service capabilities, aiming to deliver flawless and competitive maritime services to clients worldwide,” he added.
Themis Papadopoulos, CEO of Interorient Shipmanagement, highlighted the strong foundation of both companies.
“Over many decades, our businesses have nurtured a culture of trust, reliability, and strong family values. This merger is a testament to our shared values and vision for the future,” he said.
“Together, we are confident that InterMaritime Shipmanagement will set new industry benchmarks, delivering the highest standards of service and operational efficiency,” he added.
Management buy-out
Interorient Marine Services was founded in 1979.
Since then, the group has diversified as an owner/operator active mainly in product tankers and bulk carriers to complement its core activity of ship management.
Intership began its new life as an independent manager in January, following a management buy-out of its technical operations from founder Hartmann Group.
Rohdenburg led the transaction.
The company had 60 ships under full management at that time, and more than 100 under crew management.
Intership Navigation was founded in 1988 by Alfred Hartmann.
It was at first a shipowning company, before expanding into third-party management.
Donnelly handles tankers and LPG carriers owned by Hartmann, Hafnia, Pelagic Partners and others.
Hartmann Crew Philippines was included in the deal, but Intership’s owned fleet was not.
Consolidation keeps on coming in the sector.
Last month, OSM Thome, itself a product of a mega-merger, agreed to buy all shares in Klaveness Ship Management from Norway’s Torvald Klaveness.
At the same time, subsidiaries of Klaveness Combination Carriers entered into new ship management agreements with Klaveness Ship Management under the ownership of OSM Thome.
