Yacht shipping industry undergoes consolidation

UNITED KINGDOM – International yacht transportation firm Peters & May has acquired a majority shareholding in Air & Ocean Shipping, Inc. of Chicago (AOS), it reported in a recent statement.

The merger of the two companies makes Peters & May the largest independent logistics company specializing in yacht shipping, according to the company. With their combined expertise, turnover of over $100 million and customers on both sides of the Atlantic, AOS and Peters & May believe they are well positioned for further growth.

AOS President Ingo Wagschal said: “We have worked closely with Peters & May for well over 10 years and our specialist import and export skills, combined with our network of contacts, will help to increase the range of services to Peters & May’s customers around the world.”

Air & Ocean Shipping provides transportation for over 7000 motor and sailing yachts each year to destinations worldwide, as well as supplying shipping services for marine spares and equipment, airfreight and customs clearance.

Jan Rydgren-Knudsen joins AOS as chairman of the Board. He is a consultant to Peters & May after working for more than 35 years in the Wilh. Wilhelmsen group, and he brings to AOS knowledge and experience in international shipping and logistics, according to Peters & May.

Nigel Prescot, chairman of Peters & May, added: “This is key step in our strategy to build a global network. We want to give our customers the local touch as well as a uniformly high quality of service and performance so that they can rely on Peters & May wherever they are in the world. We look forward to working with Ingo and his team, tapping into his expertise for the benefit of all our customers.”

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