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Editor in chief: Angelo Scorza
06/05/19 10:24

Here it is Bertram Rickmers again

Bankrupted German shipowner is behind 6 new building boxship orders in Chinese shipyard by controlled Asian Spirit Steamship Company

The renown German shipowner and operator Bertram Rickmers, who went bankrupt in 2017 with Rickmers Holding AG and recently filed for insolvency, is believed to be  behind 6 new building boxship orders in Fujian Mawei Shipbuilding of China placed by his controlled Asian Spirit Steamship Company (ASSC).

Notably when the German owner went finally bankrupt, Bremen-based building outfit Zech Group, headed by Kurt Zech, set up its own shipping arm named Zeaborn, which has already acquired vessels and entire companies from Rickmers Holding.

The Chinese shipyard has been building small feeder boxships for MarLink Project Management and all orders were sold to Bertram Rickmers’ private investment vehicle Brick Holding. The tonnage should have been financed by Rickmers himself, without any bank loans.

The shipping company was set up in late 2015 with declared ambition to build a fleet of 40 ships.

ASSC is listed as sole partner in 5 KG companies, of the type that are often used to own single ships: Spirit of Dubai; Spirit of Hong Kong; Spirit of Jakarta; Spirit of Lisbon; Spirit of New Delhi. Experienced Damish manager Søren Andersen, former employee of Bertram Rickmers and former CEO of Rickmers Trust Management until 2017, is also involved in the new venture.

ASSC is due to start taking delivery within 2021 of 8 feeder ships from Mawei Shipbuilding.

Each 16,000 dwt ship can load 1,700 TEUs and have a length of 160m, beam of 24.61m, and a draught of 7.5m; they will be delivered with exhaust scrubbers installed.

The vessels are most likely to be deployed within Asia where draught-restricted ports in smaller regional markets are being opened; first two ships will enter service in April and have been time-chartered to a major line for 3 years. 

Angelo Scorza

TAG : Container