E.R. Capital Holding and Rickmers Holding AG will not pursue the merger of their ship management divisions any further
Hamburg, 26th August 2016 Following an intensive review, E.R. Capital Holding and Rickmers Holding AG have jointly decided not to pursue the merger of their ship management activities for the time being. For many years the companies have worked together successfully in ship insurance and ship brokerage. These partnerships are to be intensified and extended to other ship management activities. Both companies keep the content of the merger discussions in confidence.
Based on its solid financial position, E.R. Schiffahrt will continue to follow its strategy of expanding its international third-party business and create long-term partnerships with well-known shipping lines and private and institutional owners, particularly in Asia. A number of innovative projects in the area of digitization and crewing underscore the competitive ambitions of E.R. Schiffahrt.
Jochen Klösges, CEO of E.R. Capital Holding said: “Despite the merger not being executed, we are convinced that forming larger ship management companies makes strategic sense. We are ready in every respect to form partnerships or pursue acquisitions going forward.”
About E.R. Capital Holding
E.R. Capital Holding GmbH & Cie. KG is the financial holding of Erck Rickmers. It controls assets and companies in shipping, real estate and private equity. Amongst them are E.R. Schiffahrt and E.R. Offshore, managing more than 100 container-, bulk- and offshore supply vessels. The Group employs some 3,500 people ashore and at sea. www.er-capital.com
E.R. Schiffahrt is a maritime services provider and one of the largest charter companies for container ships and bulk carriers worldwide. On behalf of various owners, it currently controls some 100 vessels, which are operated by leading liner companies and bulk operators. DNV GL awarded E.R. Schiffahrt with its ‘DNV GL Excellence 5 Stars’ certificate for its exceptional safety, environmental and quality standards. In 2012, E.R. Schiffahrt was the first German shipping company to sign the UN Global Compact, a voluntary initiative to promote sustainable development. www.er-ship.com