Premicon AG

Premicon AG was a German financial services company headquartered in Munich that specialized in closed-end funds (geschlossene Fonds), particularly in the shipping and river cruise sectors. Founded in 1998, the company launched its first ship fund in 1999, investing in two river cruise vessels. Over the following years, Premicon built a fleet of 25 river cruise ships operating on the Rhine, Main, Mosel, and Danube rivers. It also launched funds for ocean cruising (Astor), container shipping (e.g., Atlanticon), real estate, and biodiesel. The company was the majority shareholder of Köln-Düsseldorfer Deutsche Rheinschiffahrt (KD) from January 2000, holding over 98% directly and through shareholders. Premicon worked with major tour operators such as TUI, DERTOUR, Avalon, and Nicko Tours, which time-chartered its ships. In 2009, its biodiesel subsidiary filed for insolvency, and the plant was sold to a Glencore group company. In 2016, Premicon announced it would divest its stake in KD and began withdrawing from operational activities. On 6 July 2021, Premicon AG filed for insolvency, with proceedings at the Bremen insolvency court; liquidation was completed in 2022. The company was known for developing the TwinCruiser ship type with Neptun Werft, which separated the propulsion unit from the passenger unit to reduce vibrations.

Premicon AG was founded in 1998 in Munich as a service company for capital investors. In 1999, it launched its first ship fund, which invested in two river cruise ships. Over the next decade, Premicon became a leading address for closed-end funds in Germany, particularly in the river cruise sector. By the late 2000s, it had built a fleet of 25 river cruise ships operating on the Rhine, Main, Mosel, and Danube. The company also expanded into ocean cruise funds (Astor), container shipping funds (e.g., Atlanticon), real estate, and biodiesel. In January 2000, Premicon became the majority shareholder of Köln-Düsseldorfer Deutsche Rheinschiffahrt (KD), holding over 98% directly and through shareholders. In 2008, the company had 18 employees at its Munich headquarters and generated revenue of €7.4 million (2007: €9.6 million), with a balance sheet total of €10.3 million at the end of 2008. In 2010, the total annual revenue of all companies in which Premicon held stakes was around €165 million, with the largest share (about €100 million) from its wholly-owned subsidiary Transocean Kreuzfahrten. In May 2009, Premicon Biodiesel filed for insolvency, and the biodiesel plant was sold to a company belonging to the Glencore group. In March 2013, due to long-standing economic problems at charterer Transocean, Premicon announced major restructuring in marketing, nautical management, and hotel management of the Astor. In 2016, Premicon announced it would divest its stake in KD and began withdrawing from operational activities; it stopped publishing company information. On 6 July 2021, Premicon AG filed for insolvency, with proceedings at the Bremen insolvency court, and liquidation was completed in 2022. Throughout its history, Premicon was known for its partnership with Neptun Werft in developing the TwinCruiser, a river cruise ship type that separated the propulsion unit from the passenger unit to eliminate engine vibrations.

• 2022

  Liquidation completed.

• 2021

  Filed for insolvency on 6 July; proceedings at Bremen insolvency court.

• 2016

  Announced divestment of KD stake and withdrawal from operational activities.

• 2013

  Announced major restructuring of Astor operations due to charterer Transocean's economic problems.

• 2009

  Premicon Biodiesel filed for insolvency; plant sold to Glencore group company.

• 2000

  Became majority shareholder of Köln-Düsseldorfer Deutsche Rheinschiffahrt (KD).

• 1999

  First ship fund launched, investing in two river cruise ships.

• 1998

  Premicon AG founded in Munich as a service company for capital investors.

Leading provider of closed-end funds for capital investors in Germany, with deep expertise in river cruise shipping.

• River cruise ship funds

  Closed-end funds investing in river cruise ships operating on Rhine, Main, Mosel, and Danube.

• Ocean cruise fund (Astor)

  Fund for the ocean cruise ship Astor.

• Container ship funds (e.g., Atlanticon)

  Funds investing in container shipping.

• Real estate funds

  Closed-end funds for real estate investments.

• Biodiesel funds

  Funds for biodiesel production.

• TwinCruiser ship type

  River cruise ship type developed with Neptun Werft, separating propulsion from passenger unit to reduce vibrations.

1. 1Premicon AG Dienstleistungsunternehmen für Kapitalanlegerweb-archiv.de
2. 2Premiconde.wikipedia.org
3. 3Premicon AGwikidata.org
4. 4Die Geschichte des E-Bikes: Vom Patent zum globalen Trendweb-archiv.de