MPC Oceanic Group to Acquire 41% Stake in Marlow Navigation for About $126 Million

Hamburg-based MPC Oceanic Group has agreed to acquire a 41% stake in ship manager Marlow Navigation, headquartered in Limassol, Cyprus. As part of the deal, announced on November 4, 2026, Marlow's current shareholders will receive a stake of close to 9% in MPC Oceanic through the issuance of new shares, while retaining majority control of the Cypriot company.

According to Ports News Russia, the deal is valued at approximately $126 million, comprising $97 million in cash and $29 million in newly issued MPC Oceanic shares, valued at €7 ($7.86) each. One third of the cash payment will come from own resources, with the remaining two thirds financed through debt. The agreement is still subject to regulatory and antitrust approvals, with closing expected in early 2027.

MPC Oceanic, founded in 1994 and known as MPC Capital until it adopted its current name in September 2026, is controlled by Castor Maritime Inc., a Cyprus-based company led by Greek shipping entrepreneur Petros Panagiotidis. The group manages or operates more than 400 vessels and energy assets, and already counts Wilhelmsen Ahrenkiel Ship Management in its portfolio, after partnering with Wilhelmsen Ship Management in December 2023 to acquire Zeaborn Ship Management, which at the time managed around 100 vessels.

Marlow Navigation, founded in 1982 by Hermann Eden, who remains chairman, provides crewing services for more than 1,150 vessels worldwide, with over 16,000 seafarers onboard at any given time and more than 1,300 shore-based employees across 13 countries. According to Ports News Russia, the company generated about $560 million in revenue in 2025. Splash 247 also recalled that Marlow had previously attempted to merge with fellow Cypriot company Columbia Shipmanagement, negotiations that ran from 2017 and were abandoned in October 2022.

The two companies, which have maintained a relationship spanning more than a decade, see opportunities for joint investment in crew training, technology and service development, amid a generational transition at Marlow. MPC Oceanic CEO Constantin Baack said the partnership would strengthen the group's position in crew management and training, in the face of more complex propulsion systems, alternative fuels and stricter regulation. Eden, for his part, noted that the deal will help expand Marlow's maritime services internationally while preserving its independence, as the company will retain its own management, brand and operations, and also intends to appoint a representative of its shareholders to MPC Oceanic's supervisory board.