Germany: Dr. Peters Group, Chemikalien Seetransport create ship management JV

Hamburg-based tanker shipping company Chemikalien Seetransport (CST) and Dortmund-based investment manager Dr. Peters Group (DPG) have established a joint venture for ship management.

As informed, the company will operate as a maritime service provider under the name CST/DS Shipmanagement GmbH.

The headquarters of the joint venture will be on the premises of the partner Chemikalien Seetransport in Hamburg.

The ship management activities of the DPG subsidiaries DS Tankers and DS Schiffahrt are largely absorbed in the joint venture. The fleet is to be expanded further, especially in the tanker segment, according to the duo.

Chemikalien Seetransport brings know-how in the management of LNG, chemical, product and crude oil tankers as well as bulk carriers to the company. This know-how is said to be supplemented by long-term experience in the technical management of crude oil tankers and dry ships of the DPG subsidiaries DS Tankers and DS Schiffahrt.

Chemikalien Seetransport currently has a fleet of 40 tankers and bulk carriers.

Independently of the joint venture, Chemikalien Seetransport as well as DS Tankers and DS Schiffahrt will continue to exist as independent companies. DS Tankers and DS Schiffahrt will also continue to fulfill selected contracts in the coming years that were concluded before the joint venture was founded. In addition, DPG will continue to be active in chartering and crewing through its subsidiaries.

“We are looking forward to working with the Dr. Peters Group and are pleased to expand the managed fleet by our group with the foundation of this joint venture,” Christian Krämer, Chairman of Chemikalien Seetransport, commented.

“We have been driving the strategic realignment of our shipping activities for around a year and a half… This (the joint venture) creates a new, strong ship manager with potential for new business and thus for the expansion of the fleet that is managed by CST/DS Shipmanagement GmbH,” Kristina Salamon, CEO of Dr. Peters Group, said.