Multi-million pound investment helps UK shipping firm acquire huge container ship

Investment firm Downing LLP has invested £7m in a UK-based shipping company to support its acquisition of a huge container vessel.

Anker Shipping Ltd will use the seven-figure backing to purchase the Saturn, a ship capable of carrying up to 1,350 containers at a time.

The Saturn was built in 2008 and is currently on charter in the Caribbean.

Germany-based shipping technical and commercial managers HS Schiffahrt and Nordic Hamburg have also invested in Anker. The former will oversee technical management of the vessel and Nordic Hamburg will advise on commercial operations.

David Butler, investment manager at central London-based Downing, said: “This latest deal with Anker Shipping Ltd. reflects our growing expertise in the shipping sector.

“We are particularly pleased to be partnering with such high-quality companies and industry experts as part of this investment and look forward to working with all involved.”

He continued: “Our support for the acquisition of the Saturn demonstrates that we have the confidence to take on projects, with experienced partners, where the vessel requires substantial maintenance work before it can be chartered.”

The investment is Downing’s second in the shipping industry. It follows a similar deal worth £5m with UK-based Garthcliff Shipping Ltd.