Oslo’s Elegant Private Equity Market

By Matt McCleery

Jan-Erik Dyvi AS

Dyvi is a privately owned shipping and investment group established in 1955 with shipping activities focusing on ownership and management of car carriers. Jan-Erik Dyvi AS is the management company of the Dyvi group. The car carriers in the fleet are on long-term charter to first- class operators like Volkswagen Transport GmbH, NYK and Mitsui OSK Line.

Dyvi has extensive experience in contracting and running various vessel types like car carriers, bulkers, heavylift vessels and offshore units. Car carriers have been a focal point since the 1 960ies when Dyvi developed and contracted the world’s first pure car carrier (PC C).

Presently Dyvi has owning interests and manages the following ships:

Name Shiptype Built

“DYVI PAMPLONA” PCTC 2000

“DYVI PUEBLA” PCTC 1999

“KASSEL” PCTC 1999

“DYVI BALTIC” PCTC 1989

“WOLFSBURG” PCTC 1988

“DYVI KATTEGAT” PCC 1973

“BLUE MARLIN” Heavylift 2000

“BLACK MARLIN” Heavylift 1999

“TOR SCANDIA” RORO 1981

“TOR FLANDIRIA” RORO 1981

C alling all CFOs! The Norwegian KS market, given up for dead when most of the tax benefits for investors were eliminated in 1992, has quietly become the blue water shipping industry’s second most efficient market for raising private equity. Like most financial bubbles, the KS market ended badly, but the boom years left behind a positive legacy – they spawned a community of professional arrangers with an understanding of how to effectively structure shipping deals and a Roladex of educated investors with an appetite for shipping risk. The result of this combination is that private equity deals are getting done relatively quickly in Norway these days – for both asset play and yield – and we suspect a similar market will sprout up in Germany when tax benefits conferred upon KG investors are eliminated.

This is only an excerpt of Oslo’s Elegant Private Equity Market

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