MPC Oceanic Group AG today signed an agreement to acquire 41% of the shares of Marlow Navigation Co. Ltd. (Marlow). This deal is based on ongoing collaboration and over a decade of partnership between the two groups, forming a long-term strategic partnership while maintaining Marlow's operational independence, recognized brand, and existing leadership.
Marlow's Position and Capabilities
Marlow, based in Limassol, Cyprus, is a pioneer in providing ship management services with expertise in crew management and training seafarers. The group employs over 1,300 staff across 13 countries and manages over 16,000 crew members who serve on vessels at any given time, providing crew management services to owners and operators of more than 1,150 ships operating globally.
Strategic Necessity and Joint Collaborations
MPC Oceanic Group, based in Hamburg, is a public corporate group engaged in the construction, investment, and management of businesses and assets in the maritime and energy sectors. The group operates in eight countries and manages and operates over 400 vessels and energy assets.
The collaboration between MPC Oceanic Group and Marlow is of high importance due to their complementary capabilities. Marlow, with its global scale and expertise in crew management, technical management, and training seafarers, alongside MPC Oceanic Group, which has a global network and a strong track record in business growth in the maritime industry, can offer its clients a broader range of specialized capabilities.
Existing shareholders of Marlow will retain majority ownership of the company, and Marlow will continue its independent operations under the existing brand and current leadership team. Additionally, in this deal, MPC Oceanic Group will offer new shares to existing Marlow shareholders, resulting in approximately 9% strategic shareholding in MPC Oceanic Group.
Konstantin Buck, CEO of MPC Oceanic Group, stated: “The shipping industry is moving towards digitalization and automation, and therefore the need for people to operate these vessels is increasing. Technology only creates value when it is mastered on board, and that is where we collaborate with Marlow.”
Hermann Aiden, founder and chairman of Marlow, also said: “Marlow has been built on trust, independence, and strong relationships with clients. Collaborating with a strategic shareholder who has a good understanding of our business was very important. Having MPC Oceanic Group as a partner gives us access to a broader global network and stronger industrial relationships.”
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