Zeamarine in Crisis

Following news of the various management changes in the group, it has become clear that the overall situation of Zeamarine is more serious than it looked from the outside

Alarm bells started ringing after it became known that Sven Lundehn, Managing Director of corporate reconstruction specialist Alldatax, who handled the liquidation of the former Beluga shipping, had been appointed to the Zeamarine Board by the company’s owner Kurt Zech.

It has been reported that the breakbulk/multi-purpose ship operator, with a fleet of 75 vessels, has generated millions of debts in the last few months. Jan Hendrik Többe who just left the group, was one of the founders, together with Ove Meyer, who left the group already in summer this year, are still shareholders in the group.

Zeamarine was founded in 2018 through the merger of Zeaborn and US-based Intermarine. In spring this year, Bremen-based construction company Zech Group, which is owned by Kurt Zech, took over the entire operation, following its acquisition of Rickmers Linie in 2017.

Rapid expansion, coupled with insufficient freight earnings and high vessel charter and leasing rates, have added to the problem, while the IMO 2020 sulphur regulations will be another setback. Bertram Rickmers is still a shareholder in Zeamarine.


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