Germany: Newly Formed Shipping Group Blue Star Holding Gets CEO

Germany - Newly Formed Shipping Group Blue Star Holding Gets CEO

From July 1st 2012 Dr Hermann J. Klein will run the newly formed shipping group as its Chief Executive Officer (CEO). E.R. Schiffahrt, Komrowski Befrachtungskontor and the Komrowski owned Reederei Blue Star are merging their ship management activities under the newly formed Blue Star Holding.

The new group’s shareholders are Komrowski Holding and E.R. Capital Holding whose subsidiary E.R. Schiffahrt will be responsible for managing the new activities. By the end of May 2012 the relevant discussions with business partners are expected to be completed. By this date all employees will be united at the new company’s joint location, the current headquarters of E.R. Schiffahrt.

Already starting April 1st Dr Klein will be responsible for running the ship management activities of Komrowski Group and preparing the companies for the planned integration. Dr Klein was member of the Board of Directors of the Germanischer Lloyd AG and is currently a member of its Supervisory Board. “We are delighted to have attracted such an internationally well known and experienced top executive for this role. Dr Klein has been in the shipping industry for over 30 years and has an excellent track record, reputation and network. He is a proven expert in important topics of relevance for the future such as efficiency and environmental sustainability”, says Nicholas Teller, CEO of E.R. Capital Holding.

Until July 1st, Albert Schumacher will continue in his role as CEO of E.R. Schiffahrt. Thereafter he will remain on the Board of E.R. Schiffahrt and accompany the merger process until the end of the current year. Albert Schumacher has been Director of E.R. Schiffahrt since the company was founded and has also been a director of E.R. Capital Holding since 2010. Schumacher was instrumental in founding and developing the activities and the growth of E.R. Schiffahrt over the years and has contributed substantially to the company’s success. Having reached retirement age, Albert Schumacher will resign from his operational roles at the end of this year. He will continue to be a close advisor of the E.R. Group thereafter.

Germany’s largest shipping group

The jointly managed fleet under the umbrella of Blue Star Holding consists of 143 vessels: 114 container ships, 25 bulk carriers and 4 multipurpose units. E.R. Offshore’s nine platform supply vessels and four anchor handlers are not part of the merger. In terms of deadweight capacity, Blue Star Holding will be Germany’s largest shipping group at around ten million tonnes deadweight. In all, the new company will employ about 4,500 employees on land and at sea.

Newly Formed Shipping Group Blue Star Holding Gets CEO

A strategy with a long-term perspective

The new group’s strategy is aimed at growth, attracting other ship-owning companies as partners and increasing the fleet to over 200 vessels. “Synergies in terms of economies of scale, for example when marketing vessels or in crewing and procurement as well as in operational areas such as implementing new environmental regulations, can best be gained once a group reaches a certain size. Furthermore, banks will in future focus their ship financing activities on profitable companies which can support financing on the strength of their balance sheets. This is why larger structures are required now to be successful in the future”, Teller says. Blue Star Holding is open to talks with other ship-owning companies who are interested in joining the new group as partners.

About E.R. Capital Holding:

Erck Rickmers’ companies are consolidated under the umbrella of E.R. Capital Holding. They include:

E.R. Schiffahrt, a ship owning and ship management company specialising in container and bulk carrier shipping with 91 vessels in service and under construction.

E.R. Offshore, a company that manages special vessels for offshore oil and gas production and has 13 units.

Nordcapital, an investment company, which focuses on project financing of tangible assets in transport, energy and real estate. Nordcapital has established around 140 funds with an investment volume of EUR 6 billion for private and institutional investors.

The private equity company equitrust is active in fund management and direct investment and invests in the small and midcap segment, mainly in the German-speaking countries.

The companies within E.R. Capital Holding employ a total of 3,000 people on land and at sea.

About the Komrowski Group:

The Komrowski Group was established in 1912 and will be celebrating its 100th anniversary next year. Originally founded as a trading company, it took up shipping and ship management activities in 1923, developing these ever since. The Komrowski Group is also involved in international trading and financial services and has a number of overseas offices. In 2009 the Group acquired the shares in the Blue Star shipping company. Komrowski’s fleet of 56 ships operates in the container, bulk and multi-purpose shipping sectors.

Source: E.R. Schiffahrt, March 15, 2012

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2016 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 1 2 3 4 5 6

PUMPS & VALVES 2016

The 16th edition of PUMPS & VALVES in co-location with Maintenance, 20 and 21 April 2016 in Antwerp expo, will present a complete overview of all the technologies and innovations in the field of industrial pumps, valves and seals.

The exhibition will feature industrial pumps, control valves, valves, seals, filters and filtration, processing equipment, piping & pipelines, services for industry, governmental agencies & pipeline operators.

Pumps and Valves’ second duo edition, co-located with Maintenance, enjoyed a solid 8% increase in visitors with a total of 5.492 visitors.

read more >

FPSO Europe Congress

Why Attend the 2nd Annual FPSO Europe Congress?
Discover how FPSO leaders are embracing the new realities of a low oil price environment – what are the strategies to adopt in pursuit of viable economical FPSO projects?…

read more >

Port & Terminal Technology Conference & Exhibition 2016

MCI Media Limited are hosting the 8th International Port & Terminal Technology Conference & Exhibition in Charleston, SC.

This year, we are delighted to welcome South Carolina Ports Authority as official supporters.

Having established itself as a “must-attend” key industry event, Port & Terminal Technology will deliver an informative and technical conference programme complemented by an impressive line-up of industry experts.

Exploring the latest developments, issues, trends and technology affecting ports and terminals around the globe, the conference will provide delegates an invaluable learning opportunity as well as an excellent platform for discussion, debate and networking.

Port & Terminal Technology is specially designed for representatives from operations, maintenance and engineering from port authorities, terminal operators, consultancy firms, dredging contractors, maritime construction firms and suppliers of cargo handling equipment and those involved in the effective development and operation of container ports and terminals.

The conference is complemented by an intimate exhibition, comprising a select handful of elite market leaders, enabling companies to reach a niche target audience, showcase their products and network with potential, new and existing clients.

read more >

World Water Works 2016

Rising sea levels, ever-larger container ships, increased pressure on the accessibility of ports and waterways and the associated infrastructural requirements are all global problems.

The time is ripe for sustainable solutions which are both financially feasible and ecologically responsible.

Conference and exhibition

The two-day international hydraulic engineering conference and exhibition World Water Works on 23 and 24 March 2016 at Antwerp Expo brings together science, industry practices and trends related to:

– Hydraulic engineering
– Accessibility of ports and waterways
– Coastline and shoreline projects
– The construction of bridges, locks and tunnels
– Future offshore sea ports

read more >