German shipowner Carsten Rehder is forming a joint venture with Singapore's Thome Group to handle the management of its fleet.
The new company, called Thome Shipmanagement Germany, will handle Rehder's owned and managed fleet of boxships, bulkers and a multipurpose (MPP) ship.
The move comes a month after Rehder agreed a cooperation deal that saw it and compatriot owner Aug Bolten jointly market their handysizes and supramaxes.
Rehder's shipmanagement staff will transfer to the new venture with Thome.
The two companies have also agreed to work together on "projects of mutual interest".
Expansion targeted
Hamburg-based Rehder will remain independent as shipowners and commercial managers, while the new management company will seek to bring in more ships from European shipowners that will be handled by Thome's Croatian office.
Thomas Rehder, managing director of Carsten Rehder, said: "Entering into this collaboration with the Thome Group makes sense as the German and international shipping markets have changed over the last 10 years.
"For German shipowners, third-party shipmanagement services have become a more important part of the business. So, we decided that the time was right to integrate our shipmanagement into a larger third-party shipmanager."
He added: "The Thome Group was the obvious choice as it is a respected and internationally renowned professional operator with a strong presence in the tanker, bulk and offshore markets. Carsten Rehder's focus on container and MPP business in addition to bulk, will complement this profile, especially for European markets."
Mutual benefits
Rehder has seven feederships, two handysize bulkers, a supramax and a multipurpose vessel. It also has shipbroking and ship investment divisions.
The company was formed in 1903 by Carsten Rehder, a shipbroker who was born the fourth child of a German farmer.
Olav Nortun, Thome Group’s chief executive, added: "I am delighted that the Thome Group and Carsten Rehder have agreed to collaborate in this way.
"This will be a mutually beneficial relationship for both companies and as Carsten Rehder is a partner in Thome Germany, it will use its shipmanagement services for all its owned and third-party operated vessels. We will also work together on some joint projects."
Moving into Europe
And Thome president and chief commercial officer Claes Eek Thorstensen said: "Having an office in Germany is part of Thome’s strategy to expand its presence in Europe from a centrally-based location, giving us the opportunity to present our full range of services to different market segments."
Rehder and Aug Bolten formed a 50/50 joint venture last month called Aug Bolten Bulk (ABB), to charter the combined bulker fleet.
The company will also take responsibility for the commercial operation of bulkers handled by Rehder's chartering arm Victoria Shipbrokers.
ABB is listed with a fleet of eight handysize and supramax bulkers. But the partners plan to expand the fleet through acquisitions and third-party tonnage.
The venture is managed by Bolten's chartering director Christian Jacobsen.
The new operation is also taking over commercial management of handysize bulkers in the Sea Stallion Pool.
Bolten established the Sea Stallion pool in 2013 to commercially manage a fleet of fuel-efficient handysize bulk vessels.
But the future of the pool was left in doubt earlier in the year when three members left to form their own pool.
In March, Germany’s Termgroup, as well as Greece's M/Maritime Corp and Ariston Navigation, left to form the Hamburg-managed TMA Bulk Pool.
The exodus left the Sea Stallion pool with four vessels.
