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Maersk Line disposes of German ship management unit
4 July 2009
Reederei Blue Star sold to Komrowski
Shipping and trading group Komrowski of Hamburg has acquired Maersk Line’s German ship management unit Reederei Blue Star.
Financial terms were not disclosed.
The unit will remain an independent unit in Komrowski’s group, and operate alongside the German company’s existing ship management division, Ernst Komrowski Reederei.
Maersk acquired Blue Star when it bought P&O Nedlloyd in 2005. Market sources say mounting losses at Maersk Line finally prompted the company to do a deal to sell.
Reederei Blue Star manages 34 container vessels, most of which are on charter to Maersk Line. It also has 10 newbuilding projects.
Komrowski says Blue Star’s fleet – with its long-term charters – is an attractive business despite the pressurised container liner markets. The company says it will also seek to widen Blue Star’s portfolio and start serving other shipowners.
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