On time... - Lloyd's List

GerMAny
Schulte family
Schultes size up shipping opportunity
Separate branches of family share strong maritime roots
ONE family, two companies has become the motto for the
well-known Rickmers brothers’ entrepreneurial ventures. But
they are not alone with this approach, as it also applies to the
Schulte family.
In 1882, Johann Hermann Schulte and Christoph Bruns
founded a shipbroking company Schulte & Bruns but today, the
Schulte family is active in two separate groups, the Bernhard
Schulte group, led by Heinrich Schulte, and Reederei Thomas
Schulte started by his brother. The latter is now led by Thomas’
son Alexander.
“It was a very speedy transition from my father to me;
shortly after I came into the company, my father started to pull
out,” says 44-year-old Alexander Schulte.
When Mr Schulte took over the helm at Reederei Thomas
Schulte 10 years ago, the company was still comparatively
small. This changed quickly as he rode the wave of booming
shipping markets and expanded the company strongly until it
became one of the world’s top 20 tramp owners.
“Now we are facing a totally different landscape in the
shipping industry,” he says, and he readily admits that the
company must adapt to the changed environment.
GerMAny
Alexander oetker
Like many others, the company used to rely on the
stream of capital from KG funds to finance its growth, but
Mr Schulte does not expect this source of funding to return
in the near future.
Newbuilding orders are no longer the order of the day for
Reederei Thomas Schulte. Instead, the company is seeking
other ways to secure future growth. “At the moment, we want
to focus on third-party management as an integrated asset
manager,” he says. Possible clients could be banks seeking
partners for ships that they have ended up owning.
Prior to taking over his father’s company, Mr Schulte worked
in the shipping industry in several companies in New York,
Hong Kong and Cyprus. Before that he did an apprenticeship
at Hamburg owner August Bolten. “After the first year, it was
clear that I would remain in the industry,” he says. Mr Schulte
has one six-year-old daughter. But there is no rush for the next
generation to become involved in the company. “I want to do
this for 30 more years,” he says.
His uncle Heinrich Schulte has seven children, two sons
and five daughters. So, there is a lot of potential to keep his
company in family hands.
oetker heir follows in grandfather’s footsteps
Alexander Oetker is building his own fleet at AO Shipping
THE connection between Germany’s food industry dynasty
Oetker and the shipping industry is not always obvious
because the Oetker name does not appear in the daily business
of its affiliate Hamburg Süd.
But shipping has been part of the Oetker family business for
four generations, ever since Richard Kaselowsky, stepfather
of Rudolf August Oetker who was the grandson of the group
founder, acquired shares in Hamburg Süd in the 1930s. As a
result of the share purchase, Rudolf August Oetker got a seat
on the supervisory board of the liner company. Oetker then
expanded its stake to 49% and later acquired all the shares.
Reportedly, Rudolf August Oetker was so enthusiastic
about the prospects for the South America trades that he
wanted Hamburg Süd to engage in a major fleet expansion
immediately. However, he was thwarted by cautious bankers.
GerMAny
Still convinced that it was just the right time for newbuildings,
he set up his own shipping company, RAO, which is today the
tramp arm of the Hamburg Süd group.
Established Hamburg owners derogatively called the first
RAO ships the “baking powder fleet”, as the product once laid
the foundation for the Oetker conglomerate.
His grandson Alexander seems to be heading in the same
direction. He initially worked for Hamburg Süd, but then set
up his own shipping company before he was 30 years old,
“for the sake of freedom”, observers suggest.
Now 37, the nephew of the current Oetker group chairman
Rudolf Oetker, today heads AO Shipping. The name remains
a reminder of Hamburg Süd’s tramp shipping arm, and
the company also has business ties with his family’s major
shipping group.
next generation 2012 19