Bermuda-based shipping manager Dorchester Atlantic Marine is to change its name to Berhard Schulte Shipmanagement.

Dorchester Atlantic was already part of the Schulte Group. And the group has now decided that it and three other member companies should trade under a single banner.

In a statement yesterday, Schulte said that the move, involving Hanseatic in Cyprus, Eurasia, headquartered in Hong Kong, VBSK in Hamburg, and Dorchester Atlantic is being made "in response to developments in the shipping industry, which require substantial investments in personnel, training, information technology and quality assurance resources".

"The vision of Bernhard Schulte Shipmanagement is to be the best ship management partner for responsible and demanding ship owners," the statement continued. "With the long term commitment of the family owned parent company in Hamburg and the combined strengths and resources of our ship management entities, we are determined to meet the expectations of our clients."

Together the Schulte companies manage 650 ships, putting the joint operation second only to V.Ships with its 1,000-strong fleet.