Rickmers Group and Oaktree Form Strategic Partnership

Press Release
Monday, December 03, 2012

Funds advised by Oaktree Capital Management, LP and the global shipping major Rickmers Group are joining forces to invest in eight plus eight eco designed newbuild container vessels.

 

Oaktree Capital Management LP is a leading global investment management firm focused on alternative markets with US$81 billion assets under management (as at 30 September 2012).  Rickmers will contribute its highly respected expertise in ship building, ship management and asset management. The strategic partnership between the two firms is expected to broaden over time.  


Shipping companies are increasingly  demanding modern and energy efficient tonnage to reduce their operational expenses and importantly, will be focused on solutions which will allow them to move less efficient tonnage out of their networks as they phase these new more economical ships into service.


“Against the background of the continued crisis in ship financing, Oaktree and Rickmers are presenting a new way of cooperation between private equity and the shipping sector for investments in state-of-the-art vessels”, said Dr Ignace Van Meenen, Deputy CEO and CFO of Rickmers Holding.


Oaktree was seeking an operating partner for construction supervision, fleet management and commercial management. It is contemplated that these services will be provided by Rickmers including a life cycle approach, which integrates design, newbuilding and ship management best practices, ensuring cost efficient, reliable and predictable operations throughout the life time of the ships.


The partnership targets vessels with a modern design focussing on environmental compliance, operational, load and fuel efficiency, which will be built at a quality shipyard in Asia for delivery between mid 2014 and mid 2015.


“Our partnership with Oaktree represents a positive step in the development of new capital sources for the shipping sector. It allows us to begin to respond to the need to start investing in the tonnage of the future, offering liner carriers an attractive alternative to replace their existing higher cost fleet,” said Ronald D Widdows, CEO of Rickmers Holdings.


Hermann T Dambach, Managing Director, Oaktree, added: “We firmly believe in the shipping sector as an attractive field for investment, where the demand for higher fuel efficiency and environmentally compliant vessels will cause a constantly increasing need for the introduction of new vessels equipped with the latest technology. With its long experience and broad expertise in completing state-of-the-art newbuilding projects, operational management and a strong focus on energy efficiency, Rickmers is our ideal partner on this project.”

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Statoil Awards Hull Cleaning Contract to GAC

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international

Kongsberg to Equip 2 New Jack-Up Vessels

Kongsberg has been selected to deliver a complete Electro, Instrument & Telecom (EIT), propulsion, safety, automation and dynamic positioning package for two new Gusto NG-2500X DP II design,

Shipbuilding

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

Bordelon Takes Delivery of the Shelia Bordelon

Bordelon Marine has taken delivery of the M/V Shelia Bordelon, its next Stingray 260 DP2, Ultra-Light Intervention Vessel (ULIV).   This highly specialized vessel

Natural Gas Articulated Conduit System Patented

Elliott Bay Design Group (EBDG) announced that long-time partner Moran Towing Corporation has been granted US Patent 8,967,174 for "Articulated conduit systems

Ship Sales

Hyundai Heavy Delivers 2,000th Ship

Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.

Bahri Inks Contracts with Hyundai to Build 5 VLCCs

The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs),

Vinalines Plans Ports Divestment

The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm

Finance

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Rising from the Ashes

The federal government is now taking steps to reverse its 2010 decision to terminate the nation’s LORAN program. The LORAN program was initiated during World War II,

Training: Cutting Costs While Remaining Cutting Edge

Businesses are operating in tough economic times, with budgets being significantly cut during the current industry downturn. Unfortunately, when lowering costs is a key priority,

Environmental

Second Sea Lion Rescued from California Oil Spill Dies at SeaWorld

A second sea lion rescued from along California's oil-fouled coastline near Santa Barbara has died at SeaWorld San Diego, where veterinarians are still caring for

DuPont to Introduce Scrubber at Nor-Shipping

Belco Technologies Corporation (BELCO), a DuPont company, will introduce the DuPont Marine Scrubber (formerly the BELCO Marine Scrubber) at shipping and maritime exhibition Nor-Shipping in Oslo.

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

Fuels & Lubes

CAT’s New Dual Fuel Engine M 4G DF

At the beginning of 2015 the exhaust limit values for sulfur oxides (SOx) grew ever tighter in emission controlled areas. And with the start of 2016, nitrogen oxides

Natural Gas Articulated Conduit System Patented

Elliott Bay Design Group (EBDG) announced that long-time partner Moran Towing Corporation has been granted US Patent 8,967,174 for "Articulated conduit systems

SKF to Showcase Marine Portfolio at Nor-Shipping

SKF and SKF Blohm + Voss Industries will showcase its combined range of solutions for the marine industry at the Nor-Shipping trade fair June 2-5, 2015 in Lillestrøm, near Oslo, Norway.

News

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

UNOLS Seeks Fleet Improvement Committee Chair

The University-National Oceanographic Laboratory System (UNOLS) informs it is seeking nominations to fill a Fleet Improvement Committee (FIC) Chair position.   The position,

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Vessels

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

Bordelon Takes Delivery of the Shelia Bordelon

Bordelon Marine has taken delivery of the M/V Shelia Bordelon, its next Stingray 260 DP2, Ultra-Light Intervention Vessel (ULIV).   This highly specialized vessel

Iran, Oman Discuss Yemen War, Settle Maritime Borders

Iran's Foreign Minister Mohammad Javad Zarif discussed how to advance Yemeni peace efforts with his Omani counterpart on Tuesday, Iranian media reported, on a visit

Dynamic Positioning

Bordelon Takes Delivery of the Shelia Bordelon

Bordelon Marine has taken delivery of the M/V Shelia Bordelon, its next Stingray 260 DP2, Ultra-Light Intervention Vessel (ULIV).   This highly specialized vessel

Dynamic Positioning Training Center Launched in Shanghai

C-MAR, an international marine and offshore services provider, and the Shanghai Maritime University (SMU) has officially launched the Dynamic Positioning training

ICTSI Shows Interest in Greece's Port

Philippines head quartered International Container Terminal Services Inc. has expressed interest in a majority stake in Piraeus port in Greece, says a report in AFP.

Mergers & Acquisitions

ARDENT: The New Name (& Familiar Face) in Maritime Salvage

Last month Svitzer and Titan Salvage announced plans to merge their salvage operations. Peter Pietka, former chief executive of Svitzer Salvage, takes the helm

Viking Orders 2 Liebherr Cranes

An LR 1300 with super lift equipment and an LR 1160 crawler crane will strengthen the fleet of Viking Cranes. The Tallinn-based company with branch offices

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3037 sec (3 req/sec)