The merits of investing in ships have long been recognised: over 250 years ago business people had already joined together to create a ship-owning partnership. They built a ship, equipped it and then ran it, with all risks and opportunities divided between them. That´s the idea of a closed-end-ship-fund.

Friends of the HAMBURGISCHE SEEHANDLUNG know that the masthead of our company is Frederick the Great. He was the first to put the business concept of “maritime trading” into effect, founding the Preußische Seehandlung (Prussian Maritime Trading Company) in 1772.

The unique aspect of the business was the way in which the Prussian shipping trade and the Prussian State Bank were brought together under the same umbrella, with the bank providing the necessary finance. Business activities – which at the time consisted exclusively of ship building and shipping trade – complemented by banking services helped with the realisation of projects “in-house”. Such close ties had never been before and they proved to be enormously successful.

This entrepreneurial side of the Prussian king is an example of his character which has long been neglected: that of a business leader, a man of great competence, discipline an vision who helped bring about economic success and prestige.

In the intervening two centuries, maritime trading has changed in terms of its interpretation and business orientation. Whereas in the past, business was concentrated solely on the ship itself, nowadays the range of business activities is much broader.

What endures, however, are the strict standards regarding investments, and whether the make good financial sense and have future potential. This standards create a solid base on which financial plans are devised and decisions made about resource allocation

What also endures is the connection to a bank and to a shipping company. Today this are the M.M. Warburg Group, (Bankers since 1798) and the F.Laeisz Sipping Group (Shipping since 1824) .