Rickmers grabs a bargain
Hamburg-based Rickmers Group has purchased five secondhand 2,226 teu container vessels for around USD 30 million. Rickmers regards this particular vessel size as one of the few market segments with positive short term upside potential for the charter rates inter alia, as the number of vessels in this segment decreased in 2012. The identity of the five ships has not been disclosed, but sources believe the ships were owned by German KG-funds of Fondshaus Hamburg and managed by the Ahrenkiel Group. Since the KG funds that owned the ships were declared insolvent this year, the vessels were put up for sale. Following this transaction, the fleet of vessels owned or managed by Rickmers Group has increased to a total of 97. In June, Rickmers issued a corporate bond with a gross issuance volume of EUR 175 million.