Rickmers Charters Out Two Ships to Maersk Line

Rickmers Maritime, has secured new employment for two of its vessels.

The vessels, Henry Rickmers and Richard Rickmers, both 3,450 TEU panamax container vessels, have been chartered to Maersk Line, the world’s largest container shipping company.

Henry Rickmers will be delivered to Maersk Line this week and Richard Rickmers two weeks later. The vessels have each been chartered for an initial minimum period of 12 months, up to a maximum o f 24 months. The two vessels will be chartered at a floating rate based on an index agreed upon by both Maersk Line and RTM. The charters are expected to generate revenue for the Trust amounting to an estimated US$ 5 million over the initial 12 months.

Mr Thomas Preben Hansen, the Chief Executive Officer of RTM, commented, “We are proud to reintroduce Maersk Line to our portfolio of premier liner companies. Whilst the charter market continue s to be under tremendous pressure, it gives us confidence knowing that our modern and well – maintained ships remain competitive to the extent that the world’s leading liner company has chosen to charter our ships ahead of the many competing candidates.

With the addition of Maersk Line, Rickmers Maritime’s portfolio of counterparties will comprise six of the world’s ten largest container shipping companies – Maersk Line, Mediterranean Shipping Company, CMA CGM, Evergreen Group (through Italia Marittima) , Hanjin Shipping, and Mitsui O.S.K. Lines.

Rickmers Maritime, March 19, 2014

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