Major ship management merger in the pipeline?
A potential large-scale marriage is on the cards. The Rickmers Holding and E.R. Capital Holding have decided to review the potential for a merger of their ship management departments, Rickmers Maritime Services and E.R. Schiffahrt, into a joint venture. A declaration of intent has been signed. The new corporation would manage around 220 vessels. E.R. Capital Holding was founded in Hamburg in 1992 by Erck Rickmers, and employs 3,500 people.
The two companies have underlined that a common approach is the best way forward "in today's highly-competitive markets." The review process will take several weeks. The potential merger of the two ship management units is not expected to have an impact on the terms of the corporate bond issued by Rickmers Holding, nor affect the forecast for financial 2016. (nau)