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ISSUE NO. 17 | NOVEMBER 2013 CORPORATE INFORMATION OF THE F. LAEISZ GROUP

20 YEARS OF TEAMWORKFOR THE PAST 20 YEARS, LAEISZ AND GL MARITIME SOFTWARE HAVE WORKED CLOSELY TOGETHER IN DEVELOPING A NUMBER OF SOFTWARE TOOLS THAT, TIME AND TIME AGAIN, HAVE PROVEN TO BE PACEMAKERS FOR THE INDUSTRY.

LAUNCHED IN 1993Right up until the early 1990s, the use of computers with customized programs was almost nonexistent.

“In 1992/93, software for ship operations was sim-ply not available. We were amongst the very first suppliers,” says Heiko Hofmann, Managing Direc-tor of GL Maritime Software. Harald Schlotfeldt, Managing Technical Director at Reederei F. Laeisz, also remembers those pioneering times: “Even in the mid-nineties, only 30 percent of shipping com-panies supported their ship operations with soft-ware. We certainly took on the role of trailblazers.”

In 1992, development started on a comprehensive basic tool for the administration of a merchant ves-sel. The components designed to ease the workload on the ship’s command were relatively straightfor-ward to begin with. It was not until 1996 when the IT experts of GL Maritime Software implemented a program with the acronym SAMS on the Laeisz ships “Pommern” and “Potsdam” that technolo-gy really began to move forward. SAMS proved to be very effective, and thus provided the basis for further developments. Soon, two modules formed as the technical pillars supporting the ship opera-tion followed suite: the Planned Maintenance Sys-

tem (PMS) and the Material Management System (MMS). Today, Reederei F. Laeisz is still a leader in the implementation of data processing to assist the ship’s officers in their work and to make complex operational processes more transparent. “We are very happy to be an innovation driver and would like remain so in future“, says Harald Schlotfeldt.

DRIVER FOR INNOVATIONIn contrast to the early years, every change to the data processing architecture has, since 2008, had to pass via the desk of the system administrator: “My job is to keep the system well organized and, above all, transparent for other users,” says Cathe-rina Martens. This centralized control is essential because the GL ShipManager is not only gaining in significance, but is also becoming increasingly com-plex with each new interface to other GL software products. ShipServ concentrates on data exchange with the spare parts suppliers and on all data relating to certification. The GL FleetAnalyzer combines vari-ous tools to generate a total assessment of the ship’s performance. “Yet another initiative from Laeisz,” says Schlotfeldt. For him, the GL FleetAnalyzer is a logical ‘dashboard’ for all the previous develop-ments. “After all, when you have so much informati-on, you also need to analyse and present it properly”.

EDITORIAL

BOOK REVIEWS

DYNASTIESOF THE SEAPublished byMarine Money,Inc., 2012

N. H. Schües

Yours truly,

DEAR FRIENDS OF F. LAEISZ

More book reviews on page 8

There still is no light at the end of the tunnel! Insolvencies are still on the rise and early optimism has been proven wrong. No matter how long this crisis continues, once it is over requirements for acquisition of both debt and equity will have changed: Also a family controlled company will be required to have its’ corpo-rate structure, processes as well as reporting organized in a manner that satisfies the necessities of capital markets. This will be essential for being financially competitive for fu-ture projects.

Apart from this competitive ad-vantages for a shipping company remain “on hire” statistics, opera-tional expenses and access to the charter market.

Scan QR-Codewith your mobileand download the Fleet News atwww.laeisz.de

Environmental Award „Blauer Engel“See page 2

Change in ManagementSee page 5

Best OwnerSee page 4

RESEARCH VESSEL “MYA II” RETIREMENT OF JÜRGEN FISCHERNYK IBIS 2012 AWARD

GL MaritimeSoftware

ISSUE NO. 17 | NOVEMBER 2013 | PAGE 2 CORPORATE INFORMATION OF THE F. LAEISZ GROUP

„WHITE AS MARBLE“

BLUE ANGEL („BLAUER ENGEL“)

The Blue Angel (Der Blaue Engel) is a Ger-man certification for products and services that have environmentally friendly aspects. It was first awarded in 1978 by the Jury Umweltzeichen, a group of 13 people from environment and consumer protection groups, industry, unions, trade, media and churches. Blue Angel is the oldest eco-la-bel in the world, and it covers some 10.000 products in some 80 product categories.1

1 Reference: Blue Angel certifcation,http://en.wikipedia.org/wiki/Blue_Angel_(certification)

The British Royal Institution of Na-val Architects se-lected the German banana freighter as the most beau-tiful new building

of the year in 1960. The Reefer was chris-tened after a mountain close to Athens be-ing famous for its light marble and thus rep-resenting a very suitable name titular.

The first draft for a reefership drawn up by the Deutsche Werft after WW II was very successful and realised by Reederei F. Laeisz in the 1960s in a slightly en-larged and further developed version. The MV “Pentelikon” delivered to F. Laeisz on the 6th December 1960 was the first Laeisz vessel transporting Bananas from Ecuador to Japan. Later she was also trading between Ecuador and the United States as a result of the co-operation be-tween Standard Fruit and F. Laeisz as well as to the north continent under the char-ter of Salen-Lines of Sweden. The invest-ment amortised already in the first five years of service, hardly imaginable today. In 1973 F. Laeisz sold the vessel to Med-iteranska Plovidba, Dubrovnik and took it back under charter under the name MV “Plod”. In 1986 the once most beautiful vessel performed its last voyage and was recycled at Gadani Beach.

The new research vessel RV „Mya II“ was christened and delivered in List/Sylt on 13th August 2013. With a length of 21 meters, RV „Mya II“ was the first vessel designed to suf-fice the requirements of the environmental award „Blauer-Engel“.

The Bremerhaven based Alfred-Wegener-Insti-tute for Polar- and Marine Research put the new Research Vessel into service and it now belongs to the science centre of the tidal flats on the island Sylt.

According to the Head of Institute Mrs. Karin Lochte the small but very modern research ves-sel enables research among others of the struc-tures and living conditions on the sea bed as well as measuring currents. The small crane on board enables equipment with a weight of up to 1 mt to be lifted in and out of the water. The „Mya II“ has an environmentally friendly paint coat and anti-corrosive coating. A special cleaning plant filters out nitrogen oxides from the exhaust ga-ses, which reduces the pollution of the air and water which is much better for both the water and air. Furthermore, with a speed of 10 knots the “Mya II” is much faster than her predecessor “Mya” - an important point for the scientists as it gives them more time for the research of the flora, the fauna and the geology during the day tours. Due to the low draught of 1,50 m, the “Mya II” is also able to sail in shallow waters.

Nevertheless, the biggest innovations are on the technical side. This becomes evident entering the navigation bridge with its numerous moni-tors and further facilities. The vessel has for example an echo-sounder allowing the resear-chers to determine the size, and the kind of fish making its catch superfluous.

Almost every day researchers of the Alfred-Wege-ner-Institute, scientists from all over the world and their students are going to use the “Mya II” for research cruises. For all of them the most im-portant point is to research how the changing climate and how newly migrating organisms are impacting the environment of the tidal flats.

NEW RESEARCH VESSEL„MYA II“ PUT INTO SERVICE

MIGUEL ANGEL ALMODOVAR: „HAVING A BANANA EVERY DAY PROMOTES GOOD HUMOUR“This nutritionist specialist presents “Mood food”. “The cuisine of happiness,” a cookbook with recipes for uplifting the mood. There are foods that contribute to greater overall wellbeing and uplifting the mood. This is what the mood

food stands for, a culinary trend that is gaining followers and

is based on the consumpti-on of certain products

that activate the brain neurotrans-

mitters asso-

ciated with pleasure and good humour. The wri-ter a specialist in nutrition and food, Michelangelo Almodóvar (Madrid, 1950) also believes in the power of foods that make us feel better and that “are also healthy.” That is why he just released Mood Food. The kitchen of hap-piness (Oberon).

In the book big name chefs like Paco Roncero and Mario Sandoval encourage the following of this trend with the proposal of 16 menus.

According to Almodóvar eating bananas not only gives you happiness or pleasure but can also prevent depression, panic or anxiety that has grown dramatically over the years as a result of the crisis.


Weather Phenomena has been the title of our 3rd Photo Contest. Fleet News received many entries, however the theme seemed to be more difficult as expected as winning images should show a bit more than a nice sunset. However, at the end it was a challenging task of evaluating the top entries and selecting the winner and the two runners-up. Our selected photos are shown on this page.

We congratulate our winners and say thank you to all participants.

PHOTO CONTEST 2013 – WEATHER PHENOMENA

1st prize (barometer): „Anvil Cloud“ taken by Mr. P. Oertel

2nd prize (weather station): „The Golden Gates over Rostock“ taken by Mr. R. Hessler

3rd prize (book weather phenomena):„Japanese fisher boat imbedded by arctic sea smoke“ taken by Mrs. S. Günther

From left: Chief Engineer Mr. Oertel (1st prize), Mrs. Günther (3rd Prize), Mr. Hessler (2nd prize)


The MV “Bussewitz” was commissioned on the 4th February 1983 as building no. 179 at Howaldtswerke-Deutsche Werft AG, Kiel.

She was purpose built for VEB Deutfracht/Seerederei Rostock for the ammonia trade between Ventspils/Latvia and Rostock for the newly erected fertilizer factory in Pop-pendorf close to Rostock.

Captain Klaus Fanger played a vital role from the beginning of her long life. He was the responsible site manager supervising the construction of the vessel and later sailed with her for half of his life with only a small number of interruptions on other vessels. A few years ago he retired with more than 55 years on board as a seaman in our company.

After the Reunification in the ealy 1990s Norsk Hydro Agri (today – YARA) bought the fertilizer plant in Poppendorf and somewhat unexpec-tedly also became the owner of MV “Busse-witz” as part of the property. After the change of ownership she carried ammonia between YARA terminals in the Baltic and Nordic Sea.

In September 2006 YARA sold its shipping assets to BW GAS Oslo/Singapore and the

PRINCIPLESThe operation of seagoing vessels, the cargo transportation as well as the work at the shore side facilities are involved with impairing ef-fects on the environment. Being aware of this fact, our shipping company admits its responsi-bility for the protection of environment from the environmental impairments caused by the company’s business activities.

The shipping company undertakes to adhere to all relevant national and international laws and regulations in the field of environmental protec-

vessel was renamed “BW Havlys” and conti-nued trading under YARA Charter and our management.

During her 30 years of service, unplanned off-hire did not exceed 30 days in total, i.e. she only had 1 day/year unplanned off-hire which is a remarkable accomplishment of her crew and management. Most of the crew among others Germans, Philippinos and Kiri-batis served between 15 and 30 years on her and the vessel became their second home.

In 2012 BW Gas decided that the Vessel was to be recycled after 30 years in service. After discharging in Horeya/Norway she com-menced her final voyage under the command of Captain Rudolf Billep on the 4th March 2013. On March 20th 2013 she arrived at Aliaga/Turkey anchorage at around 10 am and was successfully landed the next day at 11 am.

Thanks to all those who were involved with the operation of the vessel in the past and for their good cooperation and support.

Thomas Hundt / Deputy Technical Director in charge of MV “Bussewitz”

tion. Duties resulting from such laws and regula-tions will be fulfilled with a high quality and, whe-never practicable, implemented before they come into effect. In addition, the shipping com-pany undertakes to deal with environmentally re-levant individual problems and their implementa-tion on a voluntary basis and in dependence on the economical feasibility and to implement the solutions for such problems. For this purpose, all activities and services are continuously inspected for their direct and indirect environmental im-pacts and the local, regional and global environ-mental aspects are included here.

ESSENTIAL RESULTSA total of approximately 545.975 metric tons of fuel (HFO and MDO) were consumed on board the ships. In contrast to 2006, this is a reduc-tion in the quantity used of about 311.025 tons

Please download the report at www.laeisz.de

BUSSEWITZ SAYS „GOOD BYE“ AFTER 30 YEARS IN SERVICE

ENVIRONMENTAL REPORT 2012

IBIS AWARD 2012

FESTSPIELE MECKLENBURG-VOR-POMMERN, AUDIENCE AWARD 2012

With some pride we received a message earlier this year from our Japanese corre-spondent that thanks to the performance of our vessel „POSEN“. Reederei F. Laeisz has been awarded the IBIS Award from NYK Container for “Innovative Bunker and Idle Time Saving”. The commemoration plaque shall motivate us to continue or daily work along the same line.

Ramón Ortega Quero, 25 years from Spain, is the winner of the Audience Award 2012. In the photo is the 25 year old Ramón Ortega Quero, oboe, and Mrs. Annette Schroeder-Smakman, our CFO, who is handed over the Audience Award, sponsored by Reederei F. Laeisz.

From left: Harald Schlotfeldt, Stefan Behnes

From left: Ramón Ortega Quero,Annette Schroeder-Smakman

2006

857.000 t

-15%-25% 2011

643.000 t

2012

545.975 t


ENLARGING CHARTERINGACTIVITIES

HANNES THIEDE WAS APPOINTED TO ITOPF’S ADVISORY COMMITTEE

F. Laeisz and Leonhardt & Blumberg have announced that both long established shipping groups shall combine their con-tainer chartering activities in Martini Chartering. As of 1st July 2013 Martini Chartering is exclusively handling the con-tainer chartering activities for both groups controlling around 70 container vessels between 1.100 TEU and 5.000 TEU while continuing to work for its existing clients both Owners and Charterers as well as other market participants. Thereby customers will be offered a wider range of vessels and a greater market presence. The company will be headed by Stephan Bade, also Managing Director with Leon-hardt & Blumberg, and Peter Eckhardt both signing as Managing Directors.

All non-container business in both groups will be handled outside this joint activity.

The International Tanker Owners Pollution Federation Limited (ITOPF) at it’s recent Bord of Directors Meeting in St. Peters-burg has appointed Hannes Thiede to ITOPF’s Advisory Committee. The ap-pointment reflects the growing number of Associate tonnage within ITOPF.

ITOPF’s Membership currently comprises some 6,300 owners and bareboat char-terers of approximately 10,900 tank ves-sels with a total gross tonnage of about 338 million GT. The organisation also benefits from the participation of almost 660 million GT of non-tanker tonnage owned and operated by its Associates. ITOPF’s priority service is responding to accidental marine spills and the organisa-tion’s team of highly experienced techni-cal staff are at constant readiness to travel anywhere in the world at a few hours’ notice.

On July 25th Jürgen Fischer, Managing Direc-tor and Head of Personnel Department took his official leave from the company and entered into a well-earned working less after more than 47 years serving for the company. He will stay in the company at least until the end of the year to support ongoing projects and to assist Roland Pallutz, who was appointed as new ma-

naging director and Volker Ueckert, who takes over the responsibility for the seagoing person-nel. Mr. N.W. Schües praised the achieve-ments of Jürgen Fischer during the many years being with Reederei F. Laeisz. Jürgen Fischer expressed his thanks for the warm words and he emphasized that he was always happy to work what he has always felt as “his company”.

For the 25th time the “Freundeskreis klassi-scher Yachten” organized the German Classics in Laboe. 180 participants, from the jolly-boat to the 12-meter-R-Yacht, decked the harbor. The participants came from Bremerhaven, Netherlands, Denmark or Sweden. The renova-tion methods are always an interesting topic to talk about, as it takes a lot of effort to preserve

ships and the yearly awarded renovation prize provides further motivation.

Under sails the ships are even more beautiful than in the harbour. Wind with Beaufort force four to five and a lot of sun were the best con-ditions for the ship-seniors; some of them were older than 100 years.

Hannes Thiede

CHANGE IN MANAGEMENT – RE-TIREMENT OF JÜRGEN FISCHER

OLD WOODEN SHIP LOVERS ARE SHOWING THEIR TREASURES

From left to right: Nikolaus H. Schües, Jürgen Fischer, Nikolas W. Schües, Roland Pallutz


ANNIVERSARIES 2013 | CONGRATULATIONS!

ASHORE

10 years Michael Thurmann, Ralph Leinweber, Jens Oesau, Henrik Schmidt, Mathias Kroh, Hannes Thiede

25 years Dagmar Degenkolb

30 years Willi Gäbel, Brigitte Geist, Petra Pothmann,Roland Pallutz

40 years Dr. Martin Boche

45 years Manfred Zimmermann, Klaus Wunderlich,Barbara Obermayer, Marina Schäning,Monika Steinfurth, Günter Schulz

ON BOARD

10 years Jörg Reppenhagen, Mario Montevirgen,Karl-Heinz Wrobbel, Gerald Meinert, Rene Arendt, Bernd Hoffmann, Philipp Gumtow, Thomas Kusch

25 years Frank Bähren

30 years Torsten Dibenau, Joao Matias-Jesus,Mario Tupy, Winfried Neisner

40 years Werner Haun, Hans-Joachim Janicke, Siegfried Forster, Jörg-Michael Griese, Peter Geitmann, Peter Heiser, Wilfried Neubert, Bernd Schwalger, Peter Gottschalk

45 years Theo Frey, Klaus Elsner, Norbert Roschkowski,Stefan Beer, Klaus Fiedler, Günter Krohn,Ernst-Uwe Martens, Hans Ulrich Minzlaff,Roland Stubbe, Bernd Voy, Jürgen Westendorf,Georg Koch, Walter Moll, Harald Kaczmarek

BIRTHDAYS 2013 | CONGRATULATIONS!

ASHORE

60 years Brigitte Geist, Gisela Segert, Ute Labitzke,Volker Ueckert

65 years Erika Foth, Willi Gäbel, Sigrid Pilch, Barbara Gebert

ON BOARD

50 years Winfried Neisner, Frank Solibieda, Olaf Friedrich,Torsten Dibenau, Tom Kohler

60 years Reinhard König, Klaus-Dieter Darr, Dieter Reinhardt, Hubert Jakob, Georg Jasmand, Jürgen Günther, Hans-Jürgen Schleef, Lutz Klatt, Lothar Gladow

65 years Werner Haun, Rudolf Billep, Werner d’Avis, Karl-Wil-helm Meier, Karl-Heinz Palm, Andreas Hecht, Walter Moll, Hans-Jürgen Gaude, Jens Krohn

45 YEARS ON BOARD

45 YEARS ASHORE

ManfredZimmermann

KlausWunderlich

BarbaraObermayer

MarinaSchäning

MonikaSteinfurth

GünterSchulz

TheoFrey

KlausElsner

NorbertRoschkowski

StefanBeer

KlausFiedler

GünterKrohn

Ernst-Uwe Martens

Hans Ulrich Minzlaff

RolandStubbe

BerndVoy

JürgenWestendorf

GeorgKoch

WalterMoll

HaraldKaczmarek


COMPANY HISTORY

OBITUARY CAPT. PETER LUNAU

PETER GAST SAILING REGATTA

VATTENFALL CYCLASSICS

REMINISCENCES OF AN OLD HAMBURG CITIZEN – PART 7

I spent three pleasant months in Coblenz, mainly due to the kindness of the master’s lovely young wife. Then I went to Bonn where I soon found work. There I often had the op-portunity of taking part in discussions be-tween theological and other students and of attending many passionate debates on reli-gion and philosophy. I was exceedingly stim-ulated by all this and I formed an independ-ent and liberal opinion which was contrary to the customary way of thinking. I was, at this time, already interested in intellectual matters and books were not only my stock-in-trade, their contents fascinated me too. I often read until late at night to get acquainted with renowned literature. Schiller’s noble and pure poetry inspired my heart and intellect most and soon I knew his outstanding works by heart. I have revered him my whole life long as the greatest genius of all time.

In Bonn, on the lovely River Rhine, I fell in love with a baker’s good-looking intelligent daughter and I think this would have led to marriage if I could have made up my mind to become a mem-ber of the Catholic Church. However, I was reluctant to take this step, and so we parted from each other and I travelled on to Münster by Cologne and Elberfeld. In my lodgings one night in Schwelm a long, lanky person came into my room and, without a word, lay down next to me in bed. Only after I had convinced myself it was not a hold-up but that the young man was moon-struck, did I willingly share my bed with him and we both slept tranquilly until the next morning. In the town Münster I worked for a catholic family and, during Lent, I did not get any meat to eat at all, which did not suit me in the least. Also, the fanatical hatred that the majority of the Catholic population felt against the Protestants did not help to make my stay more pleasant, so I soon travelled on to Osnabrück. But, alas, my master here was also an orthodox Catholic who used to carry a long altar-candle in the street processions, and this I disliked.

To be continued in Fleet News no. 18

A GREAT CAPTAIN PASSED AWAY.

Born 1938 in Schleswig, the widely admired Captain Peter Lunau died in February this year and our condo-lences are with his wife Barbara.

Captain Peter Lunau served suc-cessfully on many vessels of our fleet, among them were the “PURI-TAN” and the “PROTEKTOR”.

Among his greatest achievements was in 1978 on “EVA MARIA”. The vessel, after being heavily damaged by an explosion, had to be given up, but after 3 days sailing, Captain Lunau was able to bring both rescue boats to safety with all crew alive. We shall remember him with gratefulness and admiration.

The 31st September 2013 marked the 31st year of the Peter Gast Sailing Regatta. With over 150 boats and an excess of 1500 com-petitors making the trip from Maasholm to the Danish Isle of Aero, the race has grown significantly since it first began three decades ago.Five members from the Martini team made up half of the crew on board SY ‘’Veto’’, a Dufour 44. These included the skipper Peter Eck-hardt, Kim Niebuhr, Sven Wickland, Max Brydon and Edgar Kirst. Having won the event in 2011, the team was keen to build on their previous success and expectations were running high when they set off for the Danish Isle of Aeroskobing with the nine other vessels in their class. After a rather eventful start, a series of swiftly executed maneuvers meant the crew was able to cross the finish line in first place. The race was followed by the usual prize giving in the evening which is always a great way to end such an enjoyable event.

On the 25th August 2013 Martini Chartering once again took part in Europe’s largest amateur cycle race - the Vattenfall Cyclassics. Hav-ing not entered a team for the 2012 event, Martini’s team of six participants were eager to get back on their bikes and attack the 100 km route through the outskirts of Hamburg. Although the tem-peratures were not quite as high as they were in 2011, it was still 28 degrees and the riders had to battle through a strong head wind for the final stages of the race.

The team were led by Sven Wickland who finished first with an im-pressive time of 02:52:15 (average speed 35,78 kmph). He was closely followed by Peter Eckhardt who also posted a time of under three hrs with 02:52:58. It was in fact the youngest participants (Max Brydon and Edgar Kirst) who were the last to cross the finish line with times of 03:12:19 and 03:44:05 respectively....It just goes to show that age doesn’t count for everything!!

All the riders once again thoroughly enjoyed this year’s event and we are already looking forward to entering 2014’s race.

Please note that we continue to welcome volunteers and if you wish to take part please contact Martini Chartering on the following num-ber +49 40 36 808 441.


PUBLISHED BY:

Reederei F. Laeisz G.m.b.H.Phone: +49 40 36808-229 · Fax: +49 40 36808-257 E-Mail: [email protected] · www.laeisz.de · Design & Layout: www.matrix-design.com

BOOK REVIEWS

BOOK REVIEWS

Dynasties of the Sea is the first book to ex-amine one of the most powerful forces in global trade and economic development: world shipping and the magnates who drive the industry. Operating from Monaco to Hong Kong, London to Athens, Singapore to Oslo, New York to Paris, shipowners and their fi-nanciers have changes the world every way.From transporting agricultural products from Brazil to Africa and the Middle East, to de-livering Australian iron ore to China, to car-

rying Middle East crude oil to Asia and the Americans, to carrying almost every article of clothing you are wearing and every electronic device in the world, shipowners have enabled global economic deve-lopment and helped raise the entire global standard of living. While ocean shipping remains one of the most important businesses in the world, it is also one of the most volatile. Affected by such imponde-rables as weather and political upheaval, shipowning cultures have maintained their commitment to an industry that has endured for centuries – and will continue to endure for centuries to come.

The candid and detailed first-person profiles that comprise Dynas-ties of the Sea provide critical insight into the psychology of today’s generation of shipping magnates, from how they view risk – politi-cally, economically and environmentally – to what they see transpi-ring in the world tomorrow.

Author Lori Ann LaroccoTitle DYNASTIES OF THE SEA Published by Marine Money, Inc., 2012ISBN 978-0-9837163-6-5

Author Klaus Bültjer – Dieter SchulzeTitle SEE-SCHIFF-LADUNG Reference Book for Shipping AgentsPublished by Verband Deutscher Reeder e. V. Zentralverband Deutscher Schiffsmakler e.V.ISBN 978-3-923603-07-07

See-Schiff-Ladung - is the title of the refe-rence book newly issues by Verband Deut-scher Reeder (VDR) und der Zentralverband Deutscher Schiffsmakler (ZVDS)

The demand on shipping clerks in a modern shipping environment are manifold, irres-pective of whether the profession is practi-ced with a ship owner, a broking company, a shipper, in tramp or liner shipping or other entities involved in the shipping business.

In view of the multifaceted profession it is hardly possible to compile all knowledge in one reference book. This book attempts to touch on the most relevant issues or at least refer to them in short.

It was the aim to illustrate the texts in accordance with practical needs, comprehensible and well arranged. The text has been written from practitioners for practitioners. The reference book is mainly addressed to young professionals but will also accompany many users throughout their careers.

FRACHTSCHIFF-KONTOR PROJECT BACKEDBY RICKMERS, H. SCHULDT AND F. LAEISZ

Three well-known German shipping companies have joined forces with Jan Duken to launch a bank-independent restructuring platform for vessels on the brink of insolvency. Hamburg-based Frachtschiff-Kontor is the brainchild of local restructuring specialist Jan Duken, with F. Laeisz, Norddeutsche Reederei H. Schuldt and Rickmers Reederei all involved as shareholders.

The name, which roughly translates as “freight ship counting of-fice”, has been chosen as a nod to the Deutsches Segelschiff-Kon-tor, which saved a substantial part of the German ship owners from bankruptcy in the years after the First World War.

After three to five years purchased vessels will be refinanced, or possibly sold. The former owners may, under certain conditions, re-ceive a debtor warrant. Managing partner Mr Duken said: “It is a reasonable distribution of opportunity and risk between the existing shareholders, the banks and ourselves. The provision of our platform and the additional securitization of the loans is what we bring into the equation.”

GERMAN SHIPOWNERS LAUNCH WORKOUT PLATFORM

In the photo is our apprentice Edgar Kirst withhis new copy of “See-Schiff-Ladung”.

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