Bernhard Schulte to Acquire Pronav

Bernhard Schulte is looking to bolster its position in the liquified natural gas (LNG) market as it has set sights on acquiring Hamburg-based Pronav, sources close to the matter confirmed to World Maritime News.

The deal is still pending confirmation from the German competition authority-the Bundeskartellamt, however, it is expected that the deal will be completed in February.

The privately-owned Pronav was founded in 1995 and consists of Pronav Ship Management GmbH & Co. KG and Pronav Schiffahrtsberatung GmbH & Co. KG.

The company has four 210,000 cbm Q-Flex LNG carriers listed in its fleet, all built by Korean Daewoo Shipbuilding and Marine Engineering (DSME), based on the data from VesselsValue.

Those are 2008-built Al Ghariya and Duhail, and 2007-built Al Ruwais and Al Safliya, totaling in 840,000 cbm and an average age of 10 years.

The four ships form part of Pronav’s joint venture with Qatar Gas Transportation Co. (Nakilat).

Schulte Group owns about 100 vessels, mainly in container, tanker, and bulker sector and manages 600 vessels in all segments, including 23 LNG carriers, an LNG bunkering vessel and one 174,000cbm LNG carrier on order which will join the Schulte fleet in 2018.

World Maritime News Staff

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