Schulte Group acquires PRONAV

By Finance

Traditional Shipowner and Shipmanager strengthens its LNG business

The Schulte Group has signed a contract for the acquisition of 100% of the shares in the prestigious LNG ship manager PRONAV - subject to merger approval of the German Federal Cartel Office (Bundeskartellamt).

Schulte Group acquires PRONAV

The worldwide operating Schulte Group owns about 100 vessels (mainly container, tanker, bulker) and manages 600 vessels in all segments.

PRONAV, based in Hamburg, is an internationally renowned ship manager specialized in large LNG tonnage. Schulte Group is currently providing management services for 23 LNG carriers and has one LNG bunkering vessel and one 174,000cbm LNG carrier on order which will join the Schulte fleet in 2018.

The transaction puts the Schulte Group in a strong position to further exploit ship owning and ship management potential in the growing LNG market.

Source: Schulte Group