Commerzbank 's Hanseatic Ship Asset Management is to sell eighteen dry bulk and container ships for $ 254.5mn . Embarcadero shipping , the result of a joint venture by the private equity firm partners & Co and Borealis Maritime to invest in distressed shipping assets , is the buyer . Commerzbank had purchased these ships previously from investors who had default on their loans .
Commerzbank's Hanseatic Ship Asset Management is to sell eighteen dry bulk and container ships for $254.5mn. Embarcadero Maritime, the result of a joint venture by US private equity firm KKR & Co and Borealis Maritime to invest in distressed shipping assets, is the buyer. Commerzbank had acquired these ships previously from borrowers who had defaulted on their loans.