Wilhelmsen Ship Management (WSM), headquartered in Singapore, has taken over the management of five tankers after reaching an agreement to acquire an 80% stake in Hamburg-based Ahrenkiel Tankers from MPC Capital.
MPC will retain a 20% stake in the company, which will be renamed Barber Ship Management in return to the original name of WSM when it was founded in 1975.
The two companies reached a similar deal in 2020, when WSM took a 50% stake in the MPC Ahrenkiel Steamship subsidiary to train boxship management jv Wilhelmsen Ahrenkiel Ship Management.
“This acquisition is a clear statement of our intention to expand into the oil tanker segment,” said Carl Schou, CEO and Chairman of WSM. “Ahrenkiel Tankers has built a solid reputation for reliable tanker management and fits perfectly with Wilhelmsen Ship Management given our shared 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 oil tanker segment after a long absence.
“We now look forward to growing in the oil tanker segment by applying our management expertise that has been proven over many years with a track record of safe, sustainable and profitable operations,” said Schou.
WSM is one of the largest ship managers in the world, with a fleet of approximately 450 vessels under management and more than 10,000 sailors.