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Beluga Shipping announced
further investmens in the super heavy lift market.
Additional growth in
the offshore wind farm sector and offshore business segment
Beluga Shipping GmbH, the global market leader in the project &
heavy lift shipping segment, today announced plans to make further investments in the super
heavy lift market, extend its existing business segments, and improve its overall service
offering. Initially, additional growth is expected in the offshore wind farm sector. Later
on, the offshore market is expected to become Beluga’s second main pillar alongside the
attractive niche market of project and heavy lift cargo shipping: the company’s core focus
since it was founded in 1995.
For more than 12 months Beluga has been engaged in the development and construction of the
P-3 ship series. These special multi-purpose heavy lift project carriers will be fitted with
cranes capable of lifting weights of up to 2,000 tons in tandem using their on board 1,000
ton cranes. The market conditions for these carriers have significantly improved over the
last 18 months allowing Beluga to further extend its position as global market leader.
In addition, Beluga is engaged in the construction and development of erector ships for its
Joint Venture with Hochtief Construction AG: BELUGA HOCHTIEF Offshore. These erector ships –
a type of jack-up vessel – will be able to load, transport and even install offshore wind energy farms. In addition to these erector ships, Beluga is also planning two cable-laying
ships and two supply vessels for the offshore wind farm sector.
In order to carry out these strategic investments and continue on its long-term growth path,
Beluga Shipping has taken on board a strong partner, the American investment company Oaktree
Capital Management LP (OCM). Oaktree has agreed to invest in this innovative company and
provide the financing for its strategic growth. The Managing Director of the German OCM
branch office in Frankfurt/Main, Hermann T. Dambach: “Oaktree has substantial investment
experience within the shipping sector. We see Beluga Shipping as an innovative, strong and
successful company with enormous growth potential in its core business as well as in the
emerging offshore business segment. Furthermore, we are convinced that Beluga will be well
placed within the market to take advantage of additional opportunities as these arise. Our
partnership will enable Beluga to strategically and profitably extend its market leadership.”
Niels Stolberg, Founder and sole managing partner of the project and heavy lift shipping
company Beluga Shipping GmbH is equally positive about the new partnership: “In Oaktree
Capital Management we have found a competent partner who understands our philosophy and
business strategy and who will strongly support us in the further growth of Beluga Shipping.
I am convinced that the excellent working relationship that we have developed to date will
continue and together we will harvest the fruits of our co-operation.”
The partnership between Oaktree Capital Management and Beluga Shipping will officially be
sealed later on this month. Beluga is expected to order its first new special vessels shortly
after.
www.beluga-group.com
Posted 23.07.2010
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