Zeaborn, Intermarine Launch Zeamarine JV
Breakbulk firms Zeaborn and Maritime Holdings have entered a joint venture agreement, forming Zeamarine.
The new entity will operate the combined resources of both firms, including Zeaborn-owned Rickmers Line and Maritime Holdings-owned Intermarine. Consolidation will include all vessel fleets, staff, and the global network of customers and offices.
“Each respective entity brings unique value to the joint venture … Intermarine has a strong reputation out of the United States into South America and is a leading project cargo player out of Asia; Zeaborn brings a strong presence in Europe and Asia,” said Ove Meyer, managing partner of Zeaborn.
The Zeamarine team will include Ulrich Ulrichs and Nicki Schumacher from Zeaborn, and Andre Grikitis, Frank Fischer and Michael Dumas from Intermarine. The joint venture will operate a fleet of more than 75 vessels which is expected to grow to 100 vessels by year-end. The agreement is subject to antitrust clearance.
Zeaborn has been on a growth trend over the past five years through organic growth and strategic acquistions in Europe and Asia. It completed its takeover of German shipping line Rickmers-Linie, along with MCC Marine and NPC Projects in April 2017. Zeaborn also acquired ship services firm E.R. Schiffahrt, including all staff and subsidiaries, in February 2018.
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Photo: Rickmers Line vessel. Credit: Wikimedia