Ernst Russ to Focus on Ship Investment, Management

Ernst Russ, Mirror containershipImage Courtesy: Ernst Russ

Germany’s asset management company Ernst Russ (ER) has decided to separate the company from the investor management sector and focus on ship investment and management.

The company said it would sell the central trust services company, PECURA Anleger und Treuhandservice GmbH, with its registered office in Bremen, and other group companies.

Ernst Russ informed that the details related to the planned transaction to a private investor group, which includes the former member of the Executive Board of Ernst Russ AG, Ingo Kuhlmann, are currently being negotiated. The company added that the transaction should be implemented shortly.

“The streamlining of the group structure is a decisive factor in order to be effective and flexible in the areas of asset investment and asset management,” Robert Gärtner, member of the Executive Board of Ernst Russ AG, said.

“By focusing on the ship and property segments, we see ourselves well prepared for the market challenges ahead.”

In its latest financial report, Ernst Russ revealed its plans to further expand its fleet in the future and test individual investments in all shipping segments in a “targeted manner”.

“We are aiming to expand the fleet in the future by acquiring additional ships,” the company said.

The company’s revenue increased 20% year-on-year to EUR 52.7 million (USD 59 million) in the 2018 financial year, while income from the shipping segment rose by EUR 4.3 million, accounting for around 49% of revenue in 2018.

Ernst Russ currently manages a fleet of around 90 container, tanker and bulk vessels as well as other ships, which are under direct management or managed as fund vessels by shipping partners.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >