Singapore: Rickmers Shipmanagement (Singapore) has been chosen as Masterbulk’s new primary third party shipmanager. Rickmers will take over management of 16 open hatch gantry crane bulk carriers progressively between May and August 2015.
Rickmers Shipmanagement recently announced its intention to step up its bulk carrier management business. The Masterbulk appointment follows the recent addition of seven supramax bulk carriers.
Masterbulk recently decided to stop both its nascent third party management business as well as management of its own ships with top management telling Splash last month that the economics of running a standalone shipmanagement business for the number of vessels involved could no longer be justified in the current depressed market.
Dr Ignace Van Meenen, ceo of Rickmers Group, said: “By managing such advanced bulk carriers we have proven – again – our wide-ranging shipmanagement abilities.”
Nick Fisher, ceo of Masterbulk, told Splash: “We wanted a partner who put the long term relationship ahead of squeezing the margins.”