Strategic partnership

The partnership targets vessels with a modern design focussing on environmental compliance, operational, load and fuel efficiency, and will be built at a shipyard in Asia for delivery between mid-2014 and mid-2015.
“Against the background of the continued crisis in ship financing, Oaktree and Rickmers are presenting a new way of cooperation between private equity and the shipping sector for investments in state-of-the-art vessels”, said Dr Ignace Van Meenen, deputy CEO and CFO of Rickmers Holding.
Oaktree said it was seeking an operating partner for construction supervision, fleet management and commercial management. It is contemplated that these services will be provided by Rickmers including a life-cycle approach, which integrates design, newbuilding and ship management best practices, ensuring cost-efficient, reliable and predictable operations throughout the life time of the ships.
“Our partnership with Oaktree represents a positive step in the development of new capital sources for the shipping sector. It allows us to begin to respond to the need to start investing in the tonnage of the future, offering liner carriers an attractive alternative to replace their existing higher cost fleet,” said Ronald D Widdows, CEO of Rickmers Holdings.