GTT Designs Tanks for EPS' LNG-fueled Containerships
French engineering firm GTT announced it has received an order from Korean shipyard Hyundai Samho Heavy Industries for the fuel tank design of three liquefied natural gas (LNG)-fueled containerships on behalf of the Singapore-based shipping company Eastern Pacific Shipping (EPS).These three new vessels, each with a capacity of 7,700 containers, will be equipped with LNG tanks, each holding up to 6,000 m3 of LNG used as fuel. The tanks will be fitted with the Mark III Flex membrane containment technology, developed by GTT.The delivery of the three vessels will take place during the second half of 2024.Philippe Berterottière, Chairman and CEO of GTT…
New CEO for Rickmers Maritime
Singapore-listed Rickmers Maritime Trust (RTM) will have a new ceo at the helm in June this year. Its CEO Thomas Preben Hansen has resigned from his post. Soren Andersen, a shipping executive with 17 years of experience at AP Moller-Maersk Group and American President Lines, will take over the helm. Hansen has held the role of ceo at RTM since its listing on the Singapore Exchange in May 2007. Andersen is currently head of global network and alliance, following a 15 years at AP Moller – Maersk. Andersen started his career with AP Moller-Maersk in Denmark in 1997 after graduating with a Master of Science in Business Administration, marking the beginning of an illustrious career with the group in various operational, marketing, and strategic positions.
Rickmers Maritime Q1 2014 Profit Slips a Little YoY
Container ship owners & charterers out Rickmers Maritime describe a stable set of results in the first quarter of 2014. Charter revenue decreased slightly by 4% from the US$35.5 million reported for the first quarter ended 31 March 2013 to US$33.9 million, largely due to the redelivery of two vessels during the period. In the lead up to their new charters to Maersk Line, the two vessels, Henry Rickmers (formerly Ital Fastosa) and Richard Rickmers (formerly Ital Festosa) spent 19.7 days and 31.3 days respectively as at 31, March 2014 for preparation and positioning. In addition, the fleet incurred a total of 31.1 days of unscheduled off-hire, with Kaethe C. Rickmers incurring 20.0 days of off-hire due to engine problems. As a result, fleet utilisation for 1Q2014 fell to 94.3%.
Rickmers Maritime Report Fair Sailing in 2013
In a letter to unitholders introducing its 2013 financial results, the chairman and the CEO of Rickmers Maritime, state that its commitment to long-term, fixed-rate container ship time charter agreements has provided insulation from the continued pressure on time charter rates, and 2013 saw an excellent operational performance, with a 99.7% vessel utilisation rate. "The decisions taken on the Rights Issue, the deleveraging of the business, and the multicurrency medium term note (MTN) programme ensure that the Trust enters the new year on a stronger footing.
Rickmers Charter Out Two Panamax Container Ships
Rickmers Maritime, inform it has chartered out to Maersk Line the container ships 'Henry Rickmers' (formerly 'Ital Fastosa') and 'Richard Rickmers' (formerly 'Ital Festosa'), each of them 3,450 TEU panamax-size container ships. Henry Rickmers will be delivered to Maersk Line this week and Richard Rickmers two weeks later; they have each been chartered for an initial minimum period of 12 months, up to a maximum of 24 months. The two vessels will be chartered at a floating rate based on an index agreed upon by both Maersk Line and RTM.
Rickmers FY 2013 Loss Impacted by Impairment Charge
Container ship owners and operators, Rickmers Trust Management, report a net loss of US$8.0 million in 4Q2013 and a lower net profit of US$23.5 million in FY2013, compared to net profits of US$2.2 million and US$27.6 million in 4Q2012 and FY2012 respectively due to a a US$2.4 million provision for vessel impairment was made for 'Kaethe C. Rickmers'. A goodwill impairment of US$18.4 million was also recognised in 4Q2013, up from US$2.1 million a year ago. Rickmers Maritime’s fleet of 16 containerships is fully chartered out on fixed-rate time charters.
Container Ship Owners Rickmers Q3 2013 Profits Up
Rickmers Maritime is a Singapore business trust formed to own and operate containerships under long-term, fixed-rate time charters to leading container liner companies. Achieved vessel utilisation rate of 99.9%; Kaethe C. Rickmers Maritime achieved an outstanding vessel utilisation rate of 99.9% in 3Q2013. Its fleet of 16 containerships is fully chartered out, all of which are on fixed-rate time charters with an average remaining charter period of 2.5 years. Moreover, the vessel Kaethe C. Rickmers’ charter to Mediterranean Shipping Company S.A.
