MPC Capital, Zeaborn Form New Joint Venture to Manage Over 160 Boxships

ContainershipIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Hamburg-based asset and investment manager MPC Capital and Bremen-based shipping group Zeaborn have decided to create a joint venture, merging their activities in chartering and commercial management of more than 160 containerships.

As informed, the joint venture will operate under the name Harper Petersen which Zeaborn already uses for its activities in this segment. MPC Capital will add the business of Contchart to the merged activities.

The new joint platform is expected to be amongst the largest commercial containership managers globally. The company will manage more than 160 vessels with a total capacity of almost 500,000 TEU.

With vessel sizes ranging from 700 TEU to 8,500 TEU, Harper Petersen will represent a diversified fleet in respect of size, age, outfit, and sustainability requirements with more than 20 vessels to be equipped with exhaust gas cleaning systems.

Furthermore, the new joint venture will continue to grow its shipbroking services, providing chartering solutions to owners and charterers.

“I am extremely pleased that we have succeeded in creating a viable …. player merging two already well-established partners. Together we are even stronger in providing … services to our charterer clients and tonnage providers,” John Freydag, Managing Director of Contchart, said.

The partners aim to commence operations of the new Harper Petersen on November 1, 2019. According to the duo, headquarters will remain in Hamburg, with offices in Singapore, Shanghai and the Netherlands.

The closing of the transaction remains subject to antitrust clearance with the relevant cartel authorities.

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