Until the completion of the merger Leonhardt & Blumberg Reederei and Buss Shipping will continue to operate as separate entities. The new joint venture will be called Leonhardt & Blumberg Shipmanagement GmbH Co. It is the objective of the partners to achieve greater synergies by the integration of the two firms. The management board of the new venture will consist of Christian Rychly, Torben Kölln and Mathias Gaethje. The joint managed fleet will consist of 55 ships with a focus on the container feeder segment and an average ship age of 8 years. KG are pleased to announce that they have agreed to merge their ship management activities. The Hamburg based Leonhardt & Blumberg Reederei GmbH & Co. Leonhardt & Blumberg and Buss Shipping merge ship management activities We look very much forward to working together!” Ardmore Shipping enjoys the highest reputation within the tanker industry and has the same philosophy on topics such as operational efficiency, customer relation and environmental and social responsibility. On this project all our requirements are fulfilled: The timing, the market sentiment, the right assets and the right partner. “For quite some time we were investigating other shipping segments to identify opportunities to diversify our fleet and by doing so fully utilize our teams skills and expertise. Torben Kölln, Leonhardt & Blumberg's Managing Director, commented on the announcement: Leonhardt & Blumberg is a world-class private shipping group and an excellent industry partner for Ardmore Shipping, and we look forward to working with them on future business opportunities.” The sale is consistent with Ardmore’s capital allocation strategy while maintaining our commercial scale and earnings upside. “We are very pleased to work with Leonhardt & Blumberg for a sale and charter-back on three of our MR tankers.

When the vessels are taken over between June and August of this year, the current ship names will receive the L&B-typical prefix 'Hansa'.Īnthony Gurnee, Ardmore's Chief Executive Officer, commented on the announcement: Completion of each of the vessel sales is subject to the satisfaction of certain conditions, including, for one vessel, a proposed closing date currently in advance of the current purchase lease option exercise date for that vessel. Immediately following the completion of the sales, which are expected to take place in the second quarter, Ardmore will time charter each vessel from Leonhardt & Blumberg for a minimum of two years. Leonhardt & Blumberg acquires Vessels from Ardmore Shipping Hamburg, April 4th, 2022: Leonhardt & Blumberg and Ardmore Shipping Corporation announced today that they had agreed terms for the sale of three 2008-built MR product tankers to Leonhardt & Blumberg for an aggregate price of $40 million.

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