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Rickmers Line returns to family ownership

04 Feb 2000

Hapag-Lloyd has sold Rickmers Line and its four multi-purpose freighters to Reederei Bertram Rickmers, Hamburg. The sale took effect on January 1st 2000. The number of jobs involved is about 100 and the new owners will maintain these.

Rickmers Line operates worldwide multi-purpose services using conventional tonnage. Its freighters are specially equipped for transporting and handling heavy cargoes. The main trades served are between Europe and/or North America and Asia, to the Indian sub-continent, Indonesia and South America. Now that the Asian crisis has been surmounted and Asian markets are recovering, Hapag-Lloyd anticipates that the transport of plant shipments and industrial equipment will once again play a significant role.

Parting with an involvement lasting several decades is related to the opening up of Chinese ports for large containerships as well. This reduces the synergies hitherto achieved jointly with Hapag-Lloyd's container shipping. The management of Rickmers Line accordingly called for greater autarchy and flexibility. Hapag-Lloyd will now be concentrating on container liner shipping.

Rickmers Line returns to family ownership

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