A long-established ship management firm has announced it is closing its centre in the Isle of Man.
Bernhard Schulte Shipmanagement has confirmed 27 jobs will be lost as a result.
The company has blamed ‘difficulties in the local market’ for its decision to close the Ship Management Centre, based at Dorchester House on Belmont Hill in Douglas.
In a statement, it said: ‘Bernhard Schulte Shipmanagement can confirm that it will be closing its Ship Management Centre (SMC) on the Isle of Man.
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‘BSM deeply value the trust and support they have received from the community in the Isle of Man over the years.
‘However, difficulties in the local market have resulted in the need to consider alternative solutions in order to ensure optimal service delivery to clients.’
A spokesperson added: ‘In total, 27 positions will be made redundant. We are committed to providing support and resources to affected employees.’
Bernhard Schulte Shipmanagement was founded in 1883 and currently controls a modern and diversified fleet of more than 75 fully or partly owned vessels, container vessels, bulk carriers, tankers, gas carriers and offshore vessels.
The Hamburg-based company has offices in india, Singapore, Hong Kong, China, Cyprus, Greece and Mexico in additional to its centre in the Isle of Man.