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  • 2012 December 4 18:30

    Rickmers Group and Oaktree form strategic partnership for investments in newbuild container vessels

    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.”
    About Oaktree
    Oaktree is a leading global investment management firm focused on alternative markets with $81 billion in assets under management as of September 30, 2012. The firm emphasises an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, USA, the firm has over 700 employees and offices in 13 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
    Rickmers Group is an established international ship owner and provider of assets, ship management and technical services for the shipping industry. Rickmers operates a fleet of over 120 ships, with over 3,000 people employed at sea and around 450 employees ashore in more than 20 branches and over 50 agencies across the world. Under the Rickmers-Linie brand it operates a fleet of 20 specialised Heavy lift/Multi-Purpose vessels that serve customers globally.


2022 June 24

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17:57 PortNews’ week headlines summary
17:06 MOL, Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding start joint development on net zero emission ammonia-fueled ocean-going liquefied gas carrier
16:51 Samsung Heavy Industries lands orders for 14 LNG carriers - Businesskorea
16:01 Expert says Russia’s Far Eastern seaports set for handling up to 1.5 million TEUs of exports
15:46 Alicat secures £2 million contract to build further two new vessels for North Star’s renewables fleet
14:55 CMA CGM and Port Authority of Singapore sign MoU
14:30 Gazprom Dobycha Nadym to start reclamation project for the development of the Yamal’s Kruzenshternskoye field
14:03 Chevron Marine Lubricants white paper assesses future cylinder oil needs
13:21 Bureau Veritas delivers AiP to the MANTA, an innovative clean up vessel
12:42 Sea Port of St.Petersburg beefs up its crane fleet
12:35 DP World and PCFC to modernise Romania’s Constanta Port with new RO-RO terminal
12:29 Sber CIB expects oil price to hit $100 barrel by year-end
12:09 Successful completion of CNF19M ferry "General Chernyakhovsky" sea trials
12:09 Crowley, ESVAGT strengthen venture for U.S. offshore wind vessels
11:52 Port of Corpus Christi sets new tonnage and revenue records in first four months of 2022
11:35 Samskip and Ocean Infinity secure funds to drive forward hydrogen-fuelled SeaShuttle container ship
11:33 Oil prices show weak growth, mixed changes
11:25 “Viking Saturn” floated out in Ancona
10:53 HYPORT Coordination Company signs second land reservation agreement for a green hydrogen and ammonia production plant with OPAZ
10:41 Chinese shipbuilders delivered the largest container ship ever
10:30 Baltic Enabler transferred to the WALLENIUS SOL shipping line
10:12 Wilhelmsen enters into agreement to acquire Stromme to join forces on cargo hold cleaning
08:58 MABUX: Bunker prices may demonstrate irregular changes on June 24

2022 June 23

18:35 Emanuele Grimaldi appointed ICS Chairman
17:51 Ports of Stockholm opens new quay at Frihamnen Port
17:31 German seaports call for new ideas to reduce ship emissions - bremenports
17:16 PIL launches new service WS6 to expand coverage between Far East and West Coast South America
16:56 ZIM Integrated Shipping Services joins SEA-LNG coalition
16:35 thyssenkrupp nucera joins United Nations Global Compact
16:26 The shortage of Eastern rail operating domain annual throughput capacity in 2022 exceeds 100 million tonnes
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15:28 Russian bunker market sales volume may shrink by 10% to 6 million tonnes in 2022
15:24 WinGD X-EL Energy Solutions brings engine expertise to energy system integration
15:14 Cheniere and Chevron sign long-term LNG sale and purchase agreements
14:43 Wartsila accelerates Zanzibar port digitalisation project
14:22 Software solutions provider Intellicore secures partnership contract with maritime firm du Pré Marine
13:49 Cheniere announces positive final investment decision on the Corpus Christi Stage 3 Liquefaction Project
13:21 Ship It Zero resolution passes Long Beach City Council - AJOT
12:35 DNV awards KSOE AiP for new LNG fuel supply system Hi-eGAS
12:07 World Shipping Council Containers Lost at Sea Report 2022 update published
11:25 The 15-th Current State and Development of the Russian Market of Bunkering Services Conference kicks off in St. Petersburg
11:10 ECSA welcomes Parliament’s strong support to Ocean Fund and ETS costs’ pass-through to operators
10:51 Fincantieri starts construction of new class of ultra-eco-friendly ships for TUI Cruises
10:20 Challenger Management partners with DP World to finance trade in emerging markets
09:45 PSA and OOCL complete green pilot trial for integrated & enhanced container flow between Keppel Distripark and On-Dock Depot
09:29 ABS and Texas A&M Qatar agree on landmark carbon capture joint study
08:52 MABUX: Bunker prices may decline on June 23

2022 June 22

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17:19 DNV’s ShipManager supports growth of Montec Ship Management
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15:51 MOL establishes subsidiary EcoMOL
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15:09 Navigare Capital Partners signs green tech deal with NJORD
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