Hamburg-based Ernst Russ has acquired majority shares in two 12,500 dwt multipurpose vessels.

The two project cargo vessels, built in 2007, were acquired in February 2021. The acquisition follows a successful year for the company, during which it consolidated its strategy to become a ship owner and maritime investment manager.

In cooperation with its partners, Ernst Russ also acquired two container vessels in December 2020. These transactions bring the company’s total number of majority-owned vessels to 18. Together with 13 other vessels, in which Ernst Russ has significant shares, and the managed fund ships, the company manages a fleet totaling 71 vessels.

Going forward, Ernst Russ said it will continue to focus on the expansion of a stable vessel portfolio in the container, bulker, tanker and multipurpose segments.

The company added it is benefitting from booming maritime trade with steadily rising charter rates and longer charter periods, and it expects its earnings to develop positively in the 2021 financial year.