Zeamarine officially insolvent as restructuring continues

The German booking and operation offices Zeamarine Bremen, Zeamarine Germany and Zeamarine Chartering have come under court supervision while the restructuring of the Bremen-based MPV-operator continues, meaning the company is officially insolvent.

In the first official statement since Zeamarine announced its restructuring process on December 18, the Bremen-based shipping states that the reorganisation is still ongoing.

Thus far, the company has sold its Americas-Liner business which now operates under the brand Intermarine, disposed of nine heavy-lift multi-purpose vessels, which are now employed by United Heavy Lift, and transferred the commercial management of another ten multipurpose vessels to HC Chartering, which was taken over by Zeaborn in 2016.

At the moment, it is unclear if the company will be completely wound up or if the company will continue with a smaller fleet. The fleet list has been completely removed from the company’s website.

For the remainder of the restructuring process, Zeamarine now operates under court supervision in accordance with the creditor protection conditions.

The company emphasizes that the legally independent Zeaborn Ship Management Group, which provides technical management, remains unaffected by the restructuring of Zeamarine. ‘The same applies to Harper Petersen, the commercial manager of over 160 container vessels,’ Zeamarine states.

This article first appeared on Project Cargo Journal, a sister publication of SWZ|Maritime.

Picture by Zeamarine.

Author: Tobias Pieffers