Bremen businessman Kurt Zech is raising his shipping profile with Zeaborn’s takeover of loss-making Rickmers-Linie’s operations.

The businessman behind one of Germany’s youngest shipping companies is taking an “anti-­cyclical” approach with the takeover of the loss-making rival and is targeting further opportunities in the secondhand market after cancelling Chinese newbuilding orders, say Zeaborn sources.

Zech, whose wealth comes from a hotel, construction and real-estate conglomerate, surprised the market on 7 February when his privately-owned Zeaborn announced the formation of a combined fleet of about 50 multipurpose (MPP) vessels of between 7,500 dwt and 30,000 dwt, each with a combined lifting capacity of up to 700 tonnes.

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