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.

Photo: PR-foto/Rickmers Maritime

The crisis-stricken container market dragged Rickmers Maritime into the red.

The Singapore-based company belongs to the German group Rickmers Group and its business consists of chartering out its 16 container vessels. This has not made for profitable activity in the first quarter of this year, where too many ships on the water has sent freight rates to the bottom and pulled the charter market down with it.

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