Ernst Russ Invests in Two Second-Hand Boxships

Ernst Russ Germanys ship manager Ernst Russ Group has acquired two second-hand containerships. The two fleet additions feature 2,450 TEU and 2,785 TEU of capacity respectively and have an average age of around 12 years. ABN AMRO – Global Transportation & Logistics provided financing for the acquisition, however, the price of the two ships was not disclosed. The transaction was structured and carried out by Ernst Russ Maritime Management GmbH & Co. KG as the maritime asset manager of the Ernst Russ Group. According to Ernst Russ, a company within the northern German maritime cluster has been given responsibility for the technical management of the ships, while another unidentified partner would be in charge of chartering the ships. After the successful acquisition of a larger ship portfolio in 2016, Ernst Russ Group expands the fleet of actively managed ships and continues to align itself as a partner for professional and institutional investors along the entire maritime value chain, the company said. The group manages a fleet of around 150 container, tanker and bulker vessels.