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Read all the latest news about Rickmers Group. ShippingWatch gives you independent, credible, critical and fair news.

Here is Germany's new major shipping investor

German business man Kurt Zech may not be a shipping magnate, but during 2017 so far he has become involved in the industry with the acquisition of Rickmer's Line and now Rickmers Management through the company Zeaborn.

MSC keeps a close eye on Rickmers Group

Container carrier MSC is ready to act quickly if creditors attempt to arrest the three vessels the carrier has on charter from insolvent German shipowner Rickmers Group.

Bertram Rickmers could lose his entire empire

A financial restructuring of Rickmers Group could mean that Bertram Rickmers loses his entire stake in the storied German shipping group. One of the biggest symbols of German shipping's power is about to fall.

Rickmers Holding working to settle restructuring

Rickmers Holding is still working to settle a new restructuring after the company filed for insolvency at the court in Hamburg last week. The company's insolvency is "a blow to the German maritime cluster," says the German Shipowners' Association.

Bondholders have become Rickmers' worst opponent

Bondholders have become an unforeseen powerhouse in the many restructurings of maritime companies. This is visible in the case of Rickmers Maritime and Rickmers Group which are currently fighting with bondholders.

Rescue plan for Rickmers Group met with opposition

Bondholders are uncertain about the rescue plan proposed by German shipping company Rickmers Group aimed at securing continued operations. The plan includes Chairman Bertram C. Rickmers surrendering control of parent unit Rickmers Holding.

Rickmers Group booked major deficit in 2016

Huge impairments on the fleet hit Rickmers Group with a deficit last year amounting to hundreds of millions of euros. The family-owned company is struggling to land a new debt agreement.

Rickmers Maritime Trust sells entire fleet to Navios

Rickmers Maritime Trust is selling its entire fleet of container vessels to a Greek carrier. The sale comes one week after the Singapore-based company announced that it was giving up after battling to survive for months, and would close down.

Rickmers distances itself from Singapore company

Trouble for the ailing tax structure in Singapore-based Rickmers Maritime will not have consequences for Rickmers Holding. The company is completely separate from Rickmers Holding, maintains the German shipping group.

Major banks sell off multi-purpose vessels

Banks including ING and ABN Amro are demanding compulsory sales of more than 20 Dutch-controlled multi-purpose vessels after cancelling loans to the vessels. ABN Amro has now cancelled the credit to Abis Shipping's fleet of more than 12 ships.

Rickmers Group's bottom line more than halved in 2016

Large-scale impairments in the third quarter mean that German Rickmers Group's bottom line is more than halved so far in 2016, while operations and revenue also noted setbacks. The company still expects an operating result for 2016 significantly below last year's.

Rickmers Maritime close to major financing deal

Rickmers Maritime is considering converting its debt to bonds worth more than USD 70 million as part of an ongoing restructuring of the listed company's debt burden. Meanwhile, the carrier has been offered a credit facility worth USD 260 million in order to cover bank debt.

Low rates hit Rickmers Maritime with loss

Rickmers Maritime, which charters out container vessels, has been hit by low charter rates and fewer hours spent on the water. The priority now is finding the right balance between the spot market and long contracts, says CEO Søren Andersen.

Rickmers Maritime: Things are really tough right now

Making a living leasing container vessels to a market in a historical crisis is quite a roller-coaster, explains Søren Andersen, CEO of Rickmers Maritime Trust, and the company has been forced to impair the values of its vessels by a total of USD 173 million in the past two years.

Container shipowners under severe pressure in 2016

The market value of container vessel owners such as Seaspan and Rickmers have been virtually slashed in half over the course of 2015. It does not help the situation that many ships will be returned from carriers during 2016, Alphaliner writes.

Rickmers Group in improved half-year result

German Rickmers Group achieved an improved result for the first half of the year, and the company raises its full-year guidance. But the market conditions remain challenging, says the company.

Rickmers Group: Now we must expand

Challenges are lining up for Rickmers Group, which has undergone a transition this year in the company. In an interview with ShippingWatch, CEO Dr. Ignace Van Meenen explains how the company will take on the future.

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