HCI Group to take over ship portfolio financed by HSH Nordbank
- Since April 2016, a total of thirteen vessels have been transferred successively to a group of investors initiated by the HCI Group
- HCI acts as general manager and adds its weight to the north-German shipping cluster
- Deal strengthens its position as a fully integrated maritime asset manager
Hamburg, 20 May 2016 – As part of a portfolio transaction, the HCI Group and two other investors from among its shareholders have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU, with an average age of nearly ten years. Deutsche Bank AG will be refinancing part of the portfolio. The parties have agreed not to disclose the purchase price for the vessels.
In its role as general manager, the HCI Group has outsourced technical ship management to three providers within the north-German maritime cluster. Commercial ship management will be coordinated by the HCI Group and carried out by experienced partners. The general management concept and the regional responsibility it is assuming have strengthened the position of the HCI Group.
Jens Mahnke, Ingo Kuhlmann and David Landgrebe, Executive Board members of HCI Capital AG: ‘Taking over this shipping portfolio again demonstrates the performance of the HCI Group and its partners in the shipping sector. We have created a model for structuring similar portfolios, financing the transaction and managing the vessels. This also positions the HCI Group as a partner for professional and institutional investors along the entire maritime value chain.’
As announced, the HCI Group intends to take over a much wider part of the value chain in operational ship management in the future. By extending and realigning its business model, the Group aims to become even more competitive and to strengthen its asset and portfolio management to meet the demands of potential investors. Following the acquisition of the König & Cie. Group and the takeover of the Hamburg-based shipping company Ernst Russ GmbH & Co. KG, this transaction marks another step in the reorganisation of the HCI Group.