News Center Ship Sales & Purchase
Hot Keywords
Ernst Russ Eyes Further Fleet Expansion
Source:newbuilding order

After it acquired five container ships, German company Ernst Russ said that it is looking to expand its fleet with more vessels.

The company informed that the market environment is currently “very attractive, with historically low asset prices and a positive supply and demand ratio.”

Therefore, the company took advantage of this to acquire five feeder class vessels. Two ships were acquired as proprietary investments, while ElbFeeder, an investment vehicle established with a joint venture partner, acquired an additional three ships.

“The plan to expand the fleet through the acquisition of additional ships is currently being put into action,” Ernst Russ said.

The plans were unveiled as part of the company’s financial report, in which Ernst Russ informed that it continued to deliver positive business performance.

The company’s revenue increased 10 percent year-on-year to EUR 44 million. Consolidated net earnings before tax (EBT) came to EUR 9.3 million, following what was also a good result in the previous year of over EUR 10 million.

“On the whole, we built a good basis in 2017 for continued economic success in the future,” Jens Mahnke, CEO of Ernst Russ AG, said, summarising the stable performance of the Ernst Russ Group.

< Back to News Center< Ship Sales & Purchase
Latest Ship News
Hottest Ships
Ship Type
Built Year
Built Place
Bulk Carrier
2004 Built
Bulk Carrier
2010 Built
Bulk Carrier
2006 Built
Full-revolving Crane
2011 Built
Trail Suction Hopper Dredger
2014 Built
Home About Us Contact Us Help Center Advertising

Copyright © 2006-2017 沪公网安备 31011502007808号 沪ICP备17049160号 经营许可证编号:沪B2-20180166 All Rights Reserved