Pursuing Niches

Speaking of niche markets, Marenave Schiffahrts AG (“Marenave”), the Tobias Konig’s publicly traded vehicle, took advantage of a weakened car carrier market to diversify its fleet. Last week, the company announced that it had entered into a sale-leaseback transaction with Hoegh Autoliners Shipping AS (“Hoegh”). The company purchased the M/V Hoegh Berlin for $95 million and bareboat chartered it back to Hoegh for 10 years at a daily rate of $32,150 per day with an option for an additional 3 years at $35,700 per day. The vessel was built in 2005 and was lengthened in 2008 by 29 meters increasing its capacity to 7,900 CEUs.

The company carefully managed its risk by entering into a pure financial transaction and by choosing a sector that could be viewed as a

This is only an excerpt of Pursuing Niches

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post