Rickmers Group plans Singapore listing

Singapore: The Rickemers Group is said to be planning to raise $300m from the Singapore listing of a business trust based on its container vessels, Reuters reports. The company, slated to list in March, would be the third shipping trust on the Singapore stock exchange, following in the footsteps of already listed Pacific Shipping Trust and impending debutant First Ship Lease Trust.

Rickmers Group recently celebrated the naming ceremonies of three newly built containerships in Asia over a four day period. Two of the vessels, Vicki Rickmers and Maja Rickmers (4350teu each), were built at Dalian Shipbuilding, while the third, a 3500teu containership named Moni Rickmers - of new charter name Ital Fiducia (pictured) - was constructed by Hyundai Mipo.
 
The Rickmers Group has announced that it has already eight-year fixed charter parties for all three vessels. With the delivery of this trio, the group fleet consists of 81 vessels with a total deadweight of more than 2.5m tons. A further 40 vessels are under construction.  [06/02/07]