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Dalian ahead of schedule for Rickmers Trust vessel

Dalian ahead of schedule for Rickmers Trust vessel

Beijing: China's Dalian Shipyard (pictured) has advanced delivery of a 4,250teu vessel originally intended to be handed over to the Rickmers Trust on October 15 this year. The vessel, named CMA CGM Azure, will now make its way to the trust as early as the first half of July and will immediately beign its eight year charter to French container line CMA CGM catering to the Far East and the Mediterranean route. This is the sixth vessel acquired by the trust as part of its initial fleet.    

Thomas Preben Hansen, Rickmers Trust Management ceo said:  "Early delivery of the sixth vessel means that the trust is forecast to achieve higher revenues for the nine months ending December 31, 2007 than initially anticipated. Net daily charter hire of $25,000 will kick in a couple of months earlier than expected and will impact our forecast revenues positively." Accumulated revenue for the period is expected to be about $2.3m and the trust will also see a $750,000 boost in distributable cashflow.  [17/05/07]

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