It is with great sadness that the Schulte Group announced the death of Hamburg shipowner and entrepreneur Heinrich Schulte, its long-standing chairman and shareholder, who died this week in Hamburg, aged 90, according to a company statement.

Ian Beveridge, chief executive of the Schulte Group, expressed condolences to the family, saying that Dr Schulte had shaped the group for more than six decades and played a key role in the global shipping industry.

“We feel immense gratitude for Dr. Schulte’s visionary leadership, and we mourn the loss of a wise and deeply impressive person,” Beveridge said.

According to the statement, Schulte was guided by Hanseatic values of honesty, integrity and courage, combining entrepreneurial flair with a long-term strategic approach.

After handing over day-to-day management to Beveridge in 2001, he continued to serve as a managing director and chairman of the advisory board, providing strategic guidance to the group.

Schulte joined his father’s shipping company, Bernhard Schulte, in 1963. At the time, the company operated 14 owned vessels.

Over the following decades, he expanded the business into a diversified global maritime group.

Today, the group’s shipowning arm comprises around 80 vessels, while Bernhard Schulte Shipmanagement (BSM) manages about 670 ships through a network of some 30 locations worldwide, the statement said.

Born in Hamburg, with family roots in Papenburg and Emden, Schulte was an early mover into specialised markets. In the late 1960s, he became one of the pioneers of gas tanker shipmanagement for LPG and LNG transport.

He also identified the potential of offshore wind vessels at an early stage and supported the development of a dedicated offshore wind fleet.

The company said he consistently prioritised long-term economic resilience over short-term gains, a strategy that enabled the Schulte Group to navigate successive shipping downturns.

While many German shipping companies exited the market during the crises of the 1980s and 2010s, the group emerged stronger, supported by prudent management and reserves built up in stronger years.

Schulte also placed strong emphasis on maintaining the group’s independence as a family-owned business. According to the statement, succession planning was initiated early, allowing for continuity while enabling swift and autonomous decision-making.

Although responsibility was gradually transferred to the next generation, he remained closely involved as an adviser.

His legacy is closely linked to Cyprus.

The Cyprus Shipping Chamber (CSC) expressed deep sorrow over his death, describing him, in a statement, as one of the architects of Cyprus’ modern shipmanagement industry.

Schulte first arrived in Cyprus in 1972, when he established Hanseatic Shipping Co., later renamed Bernhard Schulte Shipmanagement, creating the island’s first shipmanagement company.

That move laid the foundations for Cyprus’ development into a major international maritime centre, with shipping becoming a key pillar of the national economy, the CSC said.

Today, the Schulte family’s core shipping interests are centred on Limassol-based BSM, which continues to operate globally.

The group has also expanded into new areas, launching a venture capital initiative, Innoport, this year, focusing on investments across Europe and Asia.

Born in 1935, Schulte remained active in the business well into his eighties, serving as chairman of the group’s advisory board.

Succession planning has been under way for several years, with fifth-generation family members Johann Schulte, born in 1982, and Christoph Schulte, born in 1984, joining the firm as partners in 2013.

According to the statement, Schulte is survived by his wife, five daughters, two sons and 14 grandchildren.