Breakbulk shipping

France’s River Seine port of Rouen has for a long time made a specialty of the north-south regular line trades, particularly those between northern Europe and west Africa.

SSA Marine Vice President John DiBernardo says it is no wonder that many container terminals today are struggling to handle the cargo surges generated by big ships. They continue to do business much as they did in the days of breakbulk shipping, acting as storage sheds as they await the arrival of truckers who show up in randomly.

Three former “K” Line and NYK executives have been indicted for alleged participation in a scheme to rig bids and fix prices for international shipments of roll-on, roll-off shipments to and from the United States.

Rickmers Group’s operating profit rose 35 percent in the first half, as its shipping unit returned to the black and a strong dollar boosted revenues.

Cutbacks to exploration and production budgets by oil and gas producers are reverberating across the breakbulk and heavy-lift sectors as material and supply shipments slump.

Rickmers Holding has switched its legal status from limited partnership to stock corporation, paving the way for a potential initial public offering by Germany’s biggest container ship owner and manager, most likely in New York.

After the world financial meltdown and recession of 2008, many hoped that the market balance in multipurpose shipping could be restored by at least 2015.

Rickmers Group’s net income stalled and revenue declined in 2014 but Germany’s leading container ship owner and manager continued to grow its fleet and restructured its loans.

Rickmers Maritime sank to a $16 million net loss in 2014 from a $23.5 million profit in the previous year as impairments and lower containership charter rates in the third quarter offset a profitable final three months.

So many breakbulk and heavy-lift carriers are losing money that industry analysts expect some smaller carriers to face bankruptcy in 2015 or consolidation with other carriers, at the very least.

Baltic Reefers will acquire NYKCool from NYK Reefers, the refrigerated shipping segment of Japanese shipping giant NYK Line on Sept. 1.

Rickmers-Linie has named Waldemar “Val” Poulsen as president and CEO of Houston-based Rickmers-Linie (America), effective July 1.

Ron Widdows, the high-profile U.S. chief executive officer of Rickmers Group, will step down from his post tomorrow, May 1, the leading German shipowner announced today as it posted its 2013 results.

The market for breakbulk and heavy-lift ocean cargo is emerging from the doldrums it experienced last year. Although a backlog of global industrial projects carried the heavy-lift sector through 2012 and construction of new pipelines and wind farms in the U.S. filled inbound multipurpose breakbulk vessels that year, demand largely dried up in 2013. But the picture is brightening, and the market is positioned for a significant recovery in 2014 and 2015.

Rickmers Maritime Trust has established a Singapore $300 million (about US$240.5 million) corporate bond program to fund capital expenditure.

Rickmers Group is adding €75 million (about US$103.4 million) to its €175 million corporate bond issued in June.

Rickmers Group, the German shipowner, has established a joint venture with funds linked with U.S.-based Apollo Global Management to buy container ships.

Rickmers-Linie has added a 10th vessel on its eastbound round-the-world Pearl String Service, which connects Europe, Asia and North America, as part of its continuing investment program.

Rickmers-Linie has decided to charter into its fleet the 19,100 deadweight ton, 2012-built Pacific Winter.

Rickmers-Linie will expand its service at the Port of Philadelphia with the addition of a westbound service connecting Asia, South America and North America...

BBC Chartering &amp; Logistic on Sept. 3 named Per Petersen president of BBC Chartering USA. <br /> <br />