Polaris Shipmanagement Company News

Even for Hyundai Heavy Industries (HHI), the world’s largest shipyard group, it was a remarkable occasion. In a quadruple naming ceremony at HHI’s Ulsan shipyard on July 2, Rickmers Group christened four ultra-large container ships (ULCS) of 13,100 TEU each. Each of the four ships, Pearl Rickmers, Ruby Rickmers, Aqua Rickmers and Coconee Rickmers, has a service speed of 24.3 knots. They have been chartered longterm to Maersk Line and will join Maersk’s “E-class” as Maersk Edinburgh, Maersk Emden, Maersk Eindhoven and Maersk Essen.

Rickmers Maritime has signed an agreement to acquire another four container vessels. Under a memorandum of understanding inked on Wednesday, the business trust will acquire the vessels with a capacity of 4,250 standard container units or TEU. This is on top of its recently-announced acquisition of four 13,100 TEU vessels. Together, the new vessels will increase Rickmers Maritime's total contracted fleet capacity by 170 percent to 110,310 TEU. Polaris Shipmanagement Company will manage the shipbuilding of the four vessels in China. Singapore mainboard-listed Yangzijiang Holdings will be the shipyard for this project. Delivery is scheduled for 2009. The purchase of the vessels is subject to the approval of unit-holders. Source: Channel News Asia