Singapore-headquartered Wilhelmsen Ship Management (WSM) has taken over the management of five tankers after sealing a deal to take an 80% stake in Hamburg-based Ahrenkiel Tankers from MPC Capital.
MPC will retain a 20% share in the company, which will be rebranded as Barber Ship Management in a throwback to WSM’s original name when founded in 1975.
The two companies completed a similar deal in 2020, when WSM took a 50% stake in MPC subsidiary Ahrenkiel Steamship to form boxship management jv Wilhelmsen Ahrenkiel Ship Management.
“This acquisition is a clear statement of our intent to expand in the tanker segment,” said Carl Schou, chief executive officer and president of WSM. “Ahrenkiel Tankers has developed a strong reputation for reliable tanker management and represents an ideal fit with Wilhelmsen Ship Management given our common values of environmental responsibility and safety, aligned with a high level of competence.”
The deal marks a first step for WSM after its decision to re-enter the tanker segment after a lengthy absence.
“We now look forward to growing in the tanker segment by applying our management expertise that has been proven over many years with a track record of safe, sustainable and cost-effective operations,” Schou says.
WSM is one of the world’s largest ship managers, with a fleet of around 450 vessels under management and over 10,000 seafarers.