Bernhard Schulte is looking to bolster its position in the liquified natural gas (LNG) market as it has set sights on acquiring Hamburg-based Pronav.
The deal is still pending confirmation from the German competition authority-the Bundeskartellamt, however, it is expected that the deal will be completed in February.
The privately-owned Pronav was founded in 1995 and consists of Pronav Ship Management GmbH & Co. KG and Pronav Schiffahrtsberatung GmbH & Co. KG.
The company has four 210,000 cbm Q-Flex LNG carriers listed in its fleet, all built by Korean Daewoo Shipbuilding and Marine Engineering (DSME), based on the data from VesselsValue.
Those are 2008-built Al Ghariya and Duhail, and 2007-built Al Ruwais and Al Safliya, totaling in 840,000 cbm and an average age of 10 years.