Distressed-asset specialist Borealis Maritime has acquired a fleet of 18 boxships and bulkers being hived off by Commerzbank in a $254.5m deal.
Borealis and its US private-equity backer, KKR, have emerged as successful bidders for the fleet of 13 containerships and five mid-size bulkers being sold by Commerzbank’s in-house shipping division, Hanseatic Ship Asset Management (HSAM), as part of ongoing disposals by the German bank.
