Bernhard Schulte Shipmanagement has announced the closure of its Manx operations, resulting in 27 job losses.
Its Ship Management Centre is based on Belmont Hill in Douglas.
In a statement to Manx.News the company said: “Bernhard Schulte Shipmanagement can confirm that it will be closing its Ship Management Centre (SMC) on the Isle of Man.
“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.”
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