Two of Germany’s largest non-operating ship owners and ship management groups, E.R. Capital Holding and Schulte Group, both based at Hamburg, have established a new joint investment vehicle under the name ‘Quayside Maritime Partners’.
The main purpose of the new outlet is to acquire second-hand vessels at current depressed prices for sale in the future, once market conditions have recovered.
The deal is subject to approval by the German competition and anti-trust authorities. Both of the founding partners will provide ‘significant equity’ for the joint venture, and the first vessel to be purchased will be a panamax container ship.
Following the creation of an initial portfolio, additional interested investors will be offered the opportunity to acquire a stakeholding in Quayside Maritime Partners.