February 19, 2012

HCI HAMMONIA SHIPPING AG ("HHX") invests in the 2,872 TEU container vessel M/V "Antofagasta"

Due to the shipping crisis and the though market environment for raising capital for closed-end funds the required equity for M/V "Antofagasta" could not be fully placed in the retail market.

Due to the shipping crisis and the though market environment for raising capital for closed-end funds the required equity for M/V "Antofagasta" could not be fully placed in the retail market.

Together with HAMMONIA Reederei and the fund´s stake holders, HHX developed a solution by acquiring the equity bridge loan from the financing bank and subsequently executing a dept-to-equity swap. As a result HHX became the majority shareholder besides the already existing retail investors in the vessel owning company. After completion of the transaction HAMMONIA Reederei took over the ship management.

M/V "Antofagasta" is a modern container vessel built 2008 in China with a maximum capacity of 2,872 TEU. She has a time charter with the world´s largest container liner company A.P.Möller-Maersk until 2013 under the charter name "Maersk Jannings".