Germany’s shipping company ZEABORN Group has signed an agreement to take the remaining ownership interests in shipping joint venture ZEAMARINE.
Specifically, ZEABORN has now acquired a 25 percent stake in ZEAMARINE held by New York-based investment firm New Mountain Capital.
The JV was formed in August 2018 when New Mountain Capital and ZEABORN agreed to combine the commercial activities of Intermarine, ZEABORN Chartering and Rickmers-Line under the umbrella of ZEAMARINE, creating one of the world’s largest multipurpose (MPP) carriers.
The most recent transaction is subject to approval from the antitrust authorities, according to ZEABORN.
What is more, ZEABOURN said that Andre Grikitis has decided to step down as CEO of ZEAMARINE. Ove Meyer, Managing Partner of ZEABORN, will be leading ZEAMARINE in his capacity as Owners’ Representative and work with the existing top management team around Dominik Stehle (CCO), Nicki Schumacher (COO) and Michael Dumas (CFO) on the global expansion of the company.
ZEAMARINE provides global tramp and liner services for the ocean transportation of heavy lift, breakbulk and project cargoes. It operates a fleet of about 90 multipurpose heavy lift vessels with capacities ranging between 6,300 and 30,000 dwt and a combined lifting capacity of up to 1,400 metric tons.