Zeaborn acquires E R Schiffarts

Rickmers Maritime, which is managed by Rickmers Trust Management (RTM), is teetering on the edge of insolvency

The Zeaborn Group has acquired the business operations of struggling Rickmers-Linie.

Rickmers Group has sold Rickmers-Linie to Zeaborn Shipping for an undisclosed amount. Rickmers-Linie has a storied history, dating back to 1834. In 2000, Bertram RC Rickmers bought the company back from Hapag-Lloyd and invested heavily in new modern multipurpose tonnage with 500t shipboard cranes. After more structural changes Rickmers-Linie eventually became one of the three business segments of the Rickmers Group.

The future of Rickmers Maritime is in the balance as a group of noteholders in Singapore is refusing to accept a debt restructuring that drastically reduces the value of their notes.

Falling demand is forcing the heavy lift and project cargo industry to re-evaluate short-term fleet expansions and competitive strategies.

Oil and ores, two of the main pillars of the heavy lift and project cargo markets, are reeling under the impact of falling prices