BSM acquires PRONAV

BSM acquired earlier in the year the LNG specialist PRONAV.

With this strategic move, the leading family-owned ship owner and manager continues to strengthen its position in the growing LNG market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels it has under full management in its third-party management fleet by six additional LNG carriers (LNGC).

At present, BSM provides full management for three LNGC and crew management for 21 LNGC. Five LNGCs with a capacity of 173,000-174,000m3 each, and one Gas Supply Vessel are set to join the fleet in 2018 and 2019, which will bring the number of the fully managed LNG fleet to 15.

Ian Beveridge, Chief Executive Officer of Schulte Group, said, “With the acquisition of PRONAV we further enhance the Group’s LNG expertise and strengthen our position as the third-party LNG shipmanager of choice.”

The Schulte Group marked its entry into LNG ownership in 2014. A 174,000m³-LNGC is currently being built at Samsung Heavy Industries in South Korea and shall be delivered end of 2018. Plan approval was undertaken by Schulte Marine Concept and the LNGC will be fully managed by BSM.

BSM has a strong track record in the LNG sector. In 2016, the company signed an operational partner agreement with Dreifa Energy Limited, a specialist who offers medium scale floating regasification solutions, to materialise the Dreifa floating LNG regas solution and ensure reliable and cost-efficient access to energy.

In the same year, BSM entered into a joint venture agreement with Babcock International in response to the growing demand for LNG as a marine fuel and formed joint venture Babcock Schulte Energy (BSE). Their goal is to realise projects in the small-scale LNG (ssLNG) segment, support the growth of LNG as a marine fuel and to develop scale in the ssLNG and bunkering sectors.

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