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Ernst Russ Acquires Ships Financed by ABN AMRO

Image: Ernst Russ AG

By Aiswarya Lakshmi

The Ernst Russ Group has successfully completed another transaction and acquired two container ships with capacities of 2,450 TEU and 2,785 TEU and an average age of just under 12 years.

Global Transportation & Logistics provided financing to Ernst Russ. Purchase price for the two container ships is undisclosed.
The transaction was structured and carried out by Ernst Russ Maritime Management GmbH & Co. KG as the maritime asset manager of the Ernst Russ Group.
A company within the northern German maritime cluster has been given responsibility for the technical management of the ships. Another experienced partner will be in charge of chartering.
After the successful acquisition of a larger ship portfolio in 2016, Ernst Russ Group expands the fleet of actively managed ships and continues to align itself as a partner for institutional investors along the entire maritime value chain.

Oct 5, 2017

 

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