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

Hapag-Lloyd Recycles Three Container Ships

Photo: Hapag-Lloyd

The liner shipping company Hapag-Lloyd has now completed the sale of three of its older container

Newsome Plans for Growth, Investments at SC Ports

Jim Newsome (Photo: SC Ports Authority)

Delivering today his annual State of the Port address, South Carolina Ports Authority president

Hawaii Stevedores Commits Kapalama Container Terminal

© Claude Beaubien / Adobe Stock

Honolulu-based Hawaii Stevedores, Inc. has received confirmation from Hawaii State Department of

Finance

Repeat NYC Ferry Business for Metal Shark

NYC Ferries alongside at Metal Shark's Franklin Yard. CREDIT: Metal Shark

Metal Shark Building Four 350-Passenger Vessels and an Additional 150-Passenger Vessel for NYC

Brookfield Completes Acquisition of Teekay

Image: Teekay Corporation

Teekay Corporation and Teekay Offshore Partners announced that they have completed their

GOGL Sells 6 Vessels

Photo: Golden Ocean Group Ltd

Golden Ocean Group has  announced that it has entered into agreements to sell six Ultramax

Maritime Apps