The Hamburg-based shipping company Ernst Russ is expanding its tanker fleet with two further newbuilds, whilst at the same time selling a container ship. The company has raised its EBIT forecast for 2026.
Ernst Russ has agreed to acquire two further IMO Type II chemical and product tankers, each with a deadweight tonnage of 18,500 tdw. The newbuilds will join four identical vessels that the company had already acquired in April. This brings the tanker fleet of this type to a total of six vessels.
The vessels are being built at the Chinese Wuhu Shipyard. Delivery of the first additional vessel is due to take place in the coming days, with the second vessel to follow by the end of 2026. Both tankers will be chartered to Cargill for at least three years. Ernst Russ estimates the additional charter backlog at around $38.3 million. Financing for the two vessels has been secured.
The tankers feature twelve cargo tanks coated with MarineLINE and are capable of transporting, amongst other things, vegetable oils, petroleum products and chemicals. The design is prepared for the future use of methanol. Furthermore, the vessels have Ice Class 1B certification and are designed for operation on the Great Lakes.
For Wuhu, this is already the second newbuild project with a Hamburg-based shipping company to be announced within a few days. During the SMM, SAL Heavy Lift signed a memorandum of understanding with the Chinese shipyard for five further “Orca”-class multi-purpose heavy-lift vessels, each with a deadweight tonnage of 14,600 tdw. Should this lead to a firm order, the series being built at Wuhu would increase from five to ten vessels.
In parallel with the expansion of its tanker segment, Ernst Russ is divesting itself of the container ship “EF Emma”, built in 2008, with a capacity of 1,710 TEU. The vessel is operated in a joint venture with the Icelandic shipping company Eimskip. Handover to the buyer is scheduled for the fourth quarter. The parties have agreed not to disclose the purchase price.
Largely as a result of this sale, Ernst Russ is raising its EBIT forecast for the current year. Instead of the previous range of €45 to 55 million, the company now expects an operating profit of €55 to 65 million. At the same time, the revenue forecast has been narrowed to €150 to 160 million. Previously, the range had been €145 to 160 million.
According to the company, the fleet’s technical availability so far this year stands at around 97 per cent. Further vessel sales are not factored into the new forecast. “By expanding our tanker segment, we are consistently pursuing our growth strategy,” says Co-CEO Joseph Schuchmann. The three-year charter contracts for the two new vessels specifically complement the five-year charters for the first four tankers and spread future renewal negotiations over several years.
By expanding its tanker segment, Ernst Russ is pursuing the strategy formulated in early 2026 to further diversify and modernise the fleet, as well as to increase the proportion of charter revenue secured over the long term.
