rss icon Subscribe
desktop mobile

Rickmer's Group Worth $740 Million

Rickmers Group fleet value, from March 21, 2016 (Source: VesselsValue)

Posted by Eric Haun

Following last month's news that Singapore Based Rickmers Maritime Trust is to be wound up, Rickmers Holding AG released a statement on April 19 reporting that an understanding had been reached regarding restructuring of the Rickmers Group.

It is understood that sole shareholder Bertram Rickmers will reduce his shareholding to below 25 percent, while the remaining 75 percent will be taken by lenders and bondholders.
The value today of the Rickmers Group (a Rickmers Holding AG subsidiary) sits at $740 million, according to VesselsValue.
The group owns four handy containerships currently being built at Jiangsu New Yangzijiang in China. These newbuilds are worth $68 million.
The fleet is made up of four MPP vessels, two vehicle carriers and 35 container vessels ranging from Feedermax class to New Panamax.
Over the last 12 months the fleet has declined in value by 31 percent, in line with the decline of the liner business that is plagued by oversupply of tonnage and slow demand growth.
This decline is supplemented by strong selling and demolition activity from the ship owner, with 10 vessels having left the fleet in the last 12 months.

Apr 20, 2017

 

Container Ships

Nolan Tapped to Take Over as TOTE CEO

Tim Nolan (Photo: TOTE)

Tim Nolan has been named the next president and CEO of U.S. domestic ocean carrier TOTE Inc.

One Million Ship Containers Missing after P&R Insolvency

© Claude Beaubien / Adobe Stock

Managers of insolvent P&R Group are being investigated after it was discovered the investment firm

Maersk: Disappointing Q1 Earnings Hit Share Price

(Photo: A.P. Moller-Maersk)

A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political

Finance

PAO Sovcomflot: Tanker Market is Challenging

Photo: PAO Sovcomflot

PAO Sovcomflot (SCF Group) continued to increase the share of its fleet serving long-term energy

Federal Funding for Port of Vancouver

Photo: Vancouver Fraser Port Authority

The Vancouver Fraser Port Authority received federal funding for projects that will improve the

NYK Line's Green Bonds Terms and Conditions Determined

Image: NYK Line

Japan's Nippon Yusen Kaisha (NYK), the world's first shipping company to issue a labelled green

Maritime Apps