Schulte secures approval from German competition watchdog to buy LNG ship manager Pronav
Hamburg shipowning and management group Bernhard Schulte has received an approval from Germany’s competition watchdog to acquire liquefied natural gas (LNG) ship manager Pronav.
With this merger approval by the German Federal Cartel Office (Bundeskartellamt), the acquisition announced in January is now finalized.
Pronav manages six carriers which all under long-term charters to LNG producing giant Qatargas.
The vessels are Duhail, Al Ghariya, Al Ruwais, Al Safliya, Milaha Qatar and Milaha Ras Laffan.
The acquisition of Pronav boosts Schulte Group’s capabilities and capacity in the growing LNG market.
At present, the Schulte Group provides full management for three LNG carriers and crew management for 21 LNG tanker.
Five LNG carriers with a capacity of 173,000-174,000 cubic meters each and one LNG bunkering vessel are set to join the company’s fleet in 2018 and 2019, which will bring the number of the company’s fully managed LNG fleet to 15, according to Schulte.