Download PDF version

Wilhelmsen Ship Management has strengthened its position in the tanker market with a newly signed agreement to acquire a majority stake in Hamburg-based Ahrenkiel Tankers.

The transaction will result in Wilhelmsen Ship Management taking over the management of five tankers. Wilhelmsen Ship Management will gain 80% ownership of Ahrenkiel Tankers under the deal, with the remaining 20% to be held by existing owners MPC Capital Group. Ahrenkiel Tankers will be rebranded as Barber Ship Management.

Ship management business

It marks the first step by Wilhelmsen Ship Management after its earlier decision to re-enter the tanker segment following a decade-long absence, while also reviving the Barber name that originally formed the basis for the company’s present ship management business.

Ahrenkiel Tankers has developed a strong reputation for reliable tanker management"

"This acquisition is a clear statement of our intent to expand in the tanker segment," says Carl Schou, Chief Executive Officer and President of Wilhelmsen Ship Management. "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," Schou adds. "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."

Specialised management arm

Wilhelmsen Ship Management was originally named Barber Ship Management Ltd when it was first incorporated in Hong Kong in 1975. Wilhelmsen Ship Management exited the tanker market in 2009 with the sale of its former subsidiary International Tanker Management (ITM) but reversed this decision two years ago due to an improved regulatory regime for tankers.

Barber Ship Management will now serve as Wilhelmsen's new specialised management arm for the tanker segment following the transaction, effective from 1 January this year. "The tanker market is a very different sector today from what it was more than a decade ago in terms of quality and safety, with much better regulation on the competence side, and this has given us the confidence to mark our re-entry into the business with this key acquisition," Schou says.

Download PDF version Download PDF version

In case you missed it

DNV data shows growth in LNG vessel orders 2025
DNV data shows growth in LNG vessel orders 2025

The ordering of alternative-fuelled vessels is continuing to grow in 2025, despite a slowdown in the overall newbuild market. According to data from DNV’s Alternative Fuels...

S-100: Charting a sustainable course for maritime's digital future
S-100: Charting a sustainable course for maritime's digital future

Maritime digitalisation, decarbonisation and autonomy were the dominant themes at this month's Nor-shipping conference, where mariners from around the world gathered to discuss the...

TGE Marine's ammonia systems lead maritime innovation
TGE Marine's ammonia systems lead maritime innovation

Höegh Autoliners has revolutionised maritime transport with its Aurora Class vessels, marking significant progress toward sustainable deep-sea shipping. These Pure Car and Tru...

vfd