Latest news from Heavy Lift & Project Forwarding International Magazine

Rickmers Group sees first quarter slide

May 13 - Rickmers Group generated revenues of EUR129.3 million (USD146.74 million) during the first quarter of 2016 - a decline of 7.1 percent year-on-year in comparison with the same period of 2015.

The operating result before interest, taxes and depreciation (EBITDA) fell by 26.8 percent to EUR50.9 million (USD57.76 million); the group's net profit rose to EUR7.5 million, compared to EUR0.7 million (USD8.51 million) in the Q1 2015.  

Rickmers-Linie - the group's breakbulk, heavy lift and project cargo shipping arm - recorded revenues of EUR34 million (USD38.58 million) during Q1 2016, down 15 percent year-on-year, and an EBITDA of -EUR2.1 million (-USD2.38 million), down from EUR1.6 million (USD1.82 million).

According to a company statement, Rickmers Group sees a variety of challenges in the market for 2016. Despite the expected slight improvement in the overall economic situation, charter and freight rates are expected to remain at low levels.

The company expects a decline in revenues due to the deconsolidation of a joint venture for three containerships, weaker spot market charter rates, plus a more significant decrease in the utilisation of capacity in the project cargo segment reflected in the negative quarterly result of Rickmers-Linie.

 

www.rickmers.com

Heavy Lift | News

Crosby delivers training courses thumbnail image

Crosby delivers training courses

April 19 - The Crosby Group has conducted two rigging training courses in the USA on behalf of its distribution partner, B.C. Wire Rope & Rigging.
Views: 234
Egbert joins at Weserport thumbnail image

Egbert joins at Weserport

April 19 - Rudolf Egbert has been appointed to the management of Bremen-based terminal operator Weserport.
Views: 353
Ritchie realigns in North America thumbnail image

Ritchie realigns in North America

April 19 - Ritchie Bros has made two senior appointments, effective July 1, 2019, as the company aims to realign its organisation in North America.
Views: 274

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.