News Content
Rickmers sees acceleration in redeliveries of chartered panamax box ships
SINGAPORE-based Rickmers Maritime is mulling the prospect of decommissioning some of its 11 containerships operating in the spot market to reduce costs when the panamax vessels are redelivered.
CEO Soeren Andersen of Rickmers Trust Management (RTM), the trustee-manager of Rickmers Maritime, said that so far, the company has been "fairly successful" in keeping the Trust's vessels employed in spite of the depressed market conditions.
"However, over the next 12 months, we are likely to face even stronger headwinds as we are seeing acceleration in redeliveries of panamax vessels, driven by the upsizing of the Panama Canal," Mr Andersen said in a statement about the firm's second quarter and first half results for 2016.
"The shipping market is volatile, and we have to strike a balance between minimising costs through this extremely adverse time by decommissioning vessels, and at the same time keeping some vessels active in the spot market for the flexibility to capitalise on any uptick," he said, reported Splash 247.
The company has a fleet of 16 containerships ranging in size from 3,450 TEU to 5,060 TEU. Seventy-two per cent of the fleet is employed this year, and utilisation levels were at 91.4 per cent in the second quarter.
RTM said its existing charter agreements will account for US$111.5 million of secured revenue between June 30 this year and expiry of the last charter contract in 2019. Charterers include CMA CGM, Maersk Line, MOL and Mediterranean Shipping Company.
CEO Soeren Andersen of Rickmers Trust Management (RTM), the trustee-manager of Rickmers Maritime, said that so far, the company has been "fairly successful" in keeping the Trust's vessels employed in spite of the depressed market conditions.
"However, over the next 12 months, we are likely to face even stronger headwinds as we are seeing acceleration in redeliveries of panamax vessels, driven by the upsizing of the Panama Canal," Mr Andersen said in a statement about the firm's second quarter and first half results for 2016.
"The shipping market is volatile, and we have to strike a balance between minimising costs through this extremely adverse time by decommissioning vessels, and at the same time keeping some vessels active in the spot market for the flexibility to capitalise on any uptick," he said, reported Splash 247.
The company has a fleet of 16 containerships ranging in size from 3,450 TEU to 5,060 TEU. Seventy-two per cent of the fleet is employed this year, and utilisation levels were at 91.4 per cent in the second quarter.
RTM said its existing charter agreements will account for US$111.5 million of secured revenue between June 30 this year and expiry of the last charter contract in 2019. Charterers include CMA CGM, Maersk Line, MOL and Mediterranean Shipping Company.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
