Rickmers Maritime

Rickmers Maritime is a Singapore business trust formed to own and operate containerships under long-term fixed-rate charters to leading container liner companies.

At the time of its initial public offering (IPO) on 4 May 2007, Rickmers Maritime had a contracted asset portfolio of 10 containerships ranging in size between 3,450 Twenty-foot Equivalents Units (TEU) and 5,060 TEU, with a total capacity of 40,910 TEU.

Today, Rickmers Maritime has 23 vessels in its contracted fleet with vessels ranging in size from 3,450 TEU to 13,100 TEU, offering a total capacity of 131,560 TEU. All the vessels in the portfolio are chartered out to leading container liner companies including A.P. Møller-Mærsk A/S, CMA CGM, Italia Marittima S.p.A. (part of the Evergreen Group), Mitsui O.S.K. Lines, Ltd. and Hanjin Shipping Co., Ltd.

Rickmers Maritime’s objectives are to offer first-class services to its customers, expand its fleet with quality ships and provide stable and growing cash flows.

Managed by Rickmers Trust Management Pte. Ltd., Rickmers Maritime aims to make regular quarterly distributions to its unitholders while reinvesting a portion of its operating cash flow to ensure its long-term sustainability.

* NON-COMPETE AND RIGHT OF FIRST OFFER AGREEMENT

Under the Non-compete Agreement, the Rickmers Group has agreed not to compete with Rickmers Maritime in the ownership of containerships of 3,450 TEU and above that have attached charters of more than one year, subject to limited exceptions. In addition, the Rickmers Group has also granted Rickmers Maritime the first right to acquire such containerships that it owns or acquires under the Right of First Offer Agreement.

(1) The Rickmers Group is controlled by Rickmers Maritime’s Chairman, Mr Bertram R. C. Rickmers.
(2) Rickmers Shipmanagement has individual service contracts with the vessel SPCs.