German heavyweights Komrowski and Erck Rickmers have confirmed plans to merge in a move with has created the country’s largest shipping company by fleet capacity in a single pen stroke.

The plot, first uncovered by TradeWinds yesterday, could be followed by further growth with the new allies keen to attract additional partners.

Ernst Peter Komrowski, owner of the Komrowski Group, said in a statement: “This alliance is the continuation of an old Hanseatic tradition: different companies pool their strengths in order to confront the challenges of a difficult market environment with a joint strategy.”

Based in Hamburg the new company will boast 162 ships with a capacity of around 9.4 million tones.

The shipmanagement activities of the pair, which trade under the banners of E.R. Schiffahrt, Komrowski Befrachtungskontor and Blue Star Shipping, will be brought together under the new umbrella of Blue Star Holdings.

In a statement confirming the deal the new alliance lays out a strategy to boost its fleet to between 200 and 250 ships via the addition of new equity partners.

Nicholas Teller, CEO of E.R. Capital Holding, explained: “The new platform offers a long-term development perspective at a time of challenging shipping markets

“Today banks and charterers are looking for efficient structures and an internationally experienced management team. This is something the new company can provide, also to other shipping companies.”

He added: “Blue Star is a historic name with a venerable heritage. Under this holding structure we intend to invite other shipping companies to join us.

"The shipping industry has to adjust to global challenges and find new, sustainable structures.”

The newly-formed titan will have 120 containerships, 25 bulkers, 13 offshore support vessels and four multi-purpose ships.

Finance

New superpower confirmed