On 15 July, the Rhenus Group signed a purchase contract with OT Logistics Capital Group and the Carl Robert Eckelmann company to acquire a majority stake in Deutsche Binnenreederei. The OT Group and Eckelmann together hold 97.2 percent of the shipping company.
Wednesday, 15 July 2020
Deutsche Binnenreederei has offices in Berlin and Hamburg and mainly operates on waterways in eastern German and Poland, where it focuses on container transports and dry bulk and heavy lift freight. Founded in 1949, the company has over 700 vessels with a total carrying capacity of around 400,000 tons (DWT) at its disposal.
“Deutsche Binnenreederei promises to be an excellent addition to our current activities. The takeover will enable us to strengthen our presence, especially in the eastern German canal network and in Poland, but also in the Benelux countries, France and along the Danube. Furthermore, the container business fits in very well with our activities at Contargo and NWL Norddeutsche Wasserweg Logistik,” says Thomas Maaßen, spokesman for the Rhenus Transport management.
“With the sale of our shares in Deutsche Binnenreederei, our goal is to focus primarily on developing our port activities and forwarding services, which will allow us to build a full logistics chain from and to the target customer. The transaction with the Rhenus Group opens a new phase in the cooperation between our companies, where the wealth of experience and advantages of both parties will allow us to establish a new long-term relationship in the inland waterway segment. This transaction is also one of the key stages in the implementation of the recovery plan and will significantly reduce OT Logistics Capital Group debt to its financial creditors,” says Konrad Hernik, CEO of OT Logistics.
Deutsche Binnenreederei will continue to operate as an independent company within the Rhenus inland shipping group. It was agreed not to disclose the purchase price.
The Rhenus Group is a leading logistics service provider with global business operations and an annual turnover of EUR 5.5 billion. Rhenus has business sites at 750 locations worldwide and employs 33,000 people. The Rhenus Group provides solutions for a wide variety of different sectors along the complete supply chain; they include multimodal transport operations, warehousing, customs clearance as well as innovative value-added services.
Press contact details for the Rhenus Group
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