Thursday, May 12, 2011

‪FIVE OCEANS ACQUIRES AND RESTRUCTURES 1100 TEU CONTAINER VESSEL‬


Five Oceans, a German shipping and investment boutique, has closed a transaction involving a 1100 TEU container vessel. The MV 'Pacific Hawk', built in 2008 at a leading Chinese shipyard, was bought for USD 20,5 Million for a small select group of investors in cooperation with AHS Funds, Hamburg. The Ship will be owned in a separate account structure managed by Five Oceans and AHS. The vessel is currently chartered out to American President Lines (APL), a subsidiary of Neptune Orient Lines which is a subsidiary of Temasek Holdings, the Singapore State Investment Fund. Jan Hagemann, Managing Partner of Five Oceans: 'This transaction was one of the opportunities where through resourceful restructuring of a distressed situation it was turned into an attractive investment for our investors

.'  Debt financing is being provided by Nord/LB.

 

Five Oceans is a management spin-off of a major German fund manager. Five Oceans current management mandate extends to a fleet of eleven vessels with a total investment volume of about USD 300 Million.

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