The Hamburg-based shipping company Chemikalien Seetransport (CST) and the Dortmund-based investment manager Dr. Peters Group (DPG) establish a joint venture with immediate effect. The company will operate as a further maritime service provider and will be called CST/DS Shipmanagement GmbH. The ship management activities of the DPG subsidiaries DS Tankers and DS Schiffahrt are largely absorbed in the joint venture. The fleet is to be expanded further, especially in the tanker segment.

The headquarters of the joint venture will be in the premises of the partner Chemikalien Seetransport in Hamburg.

Chemikalien Seetransport brings in-depth know-how in the management of LNG, chemical, product and crude oil tankers as well as bulk carriers to the company. This know-how is supplemented by the many years of experience in the technical management of crude oil tankers and dry ships of the DPG subsidiaries DS Tankers and DS Schiffahrt.

Independently of the joint venture, Chemikalien Seetransport as well as DS Tankers and DS Schiffahrt will continue to exist as independent companies.

Chemikalien Seetransport will continue to expand its market position as one of the leading German tanker shipping companies with a fleet of currently 40 tankers and bulk carriers.

DS Tankers and DS Schiffahrt will also continue to fulfill selected contracts in the coming years that were concluded before the joint venture was founded. In addition, DPG will continue to be active in chartering and crewing through its subsidiaries.

Christian Krämer, Chairman of Chemikalien Seetransport: “We are looking forward to working with the Dr. Peters Group and are pleased to expand the managed fleet by our group with the foundation of this joint venture. DS Tankers and DS Schiffahrt have an excellent reputation for the technical management of crude oil tankers and other vessels such as bulk carriers and MPPs, complementing our group very well.”

Kristina Salamon, CEO of Dr. Peters Group, comments on the establishment of the joint venture as follows: “We have been driving the strategic realignment of our shipping activities for around a year and a half. By joining forces with Chemikalien Seetransport and the establishment of a joint venture, we have brought together skills, experience and very good employees. This creates a new, strong ship manager with potential for new business and thus for the expansion of the fleet that is managed by CST/DS Shipmanagement GmbH.”