Creditreform sets Rickmers rating to “B”

May 6, 2014

Hamburg, 6 May 2014 – Rating agency Creditreform has, after the routine review, updated the rating of Rickmers Holding GmbH & Cie. KG, parent company of the Rickmers Group of shipping companies. The former company rating was “BB (watch)”. After the publication of the annual report for the financial year 2013 of the Rickmers Group on 30 April 2014, which was prepared according to international reporting standard IFRS for the first time, Creditreform now changed the company rating to “B”.

About the Rickmers Group
With its Head Office in Hamburg, Germany, the Rickmers Group is an international service provider for the shipping industry as well as for ship-owners and shipping lines. Its international structure comprises over 20 offices in eleven countries and more than 50 agents worldwide. The Rickmers Group’s business activities are grouped into three segments: Maritime Assets, Maritime Services and the Rickmers Line.
The Group employs about 3,400 people at sea and ashore and controls a fleet of more than 100 ships, thereof 59 own.

In the Maritime Assets segment the Rickmers Group is active as Asset Manager for its own vessels and also for those of third parties. Rickmers initiates and coordinates shipping projects, organises financing and acquires, charters and sells ships. In the Maritime Services business segment the Rickmers Group provides ship management services for the Rickmers Group’s own vessels as well as for those owned by third parties; these services comprise technical and operational management, crewing, newbuild supervision, consultancy and insurance-related services. In the Rickmers Line business segment the Rickmers Group operates as a shipping line for breakbulk, heavy lift and project cargo, and additionally offers individual voyages.