August 26 - Rickmers Holding and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities for the time being.
The companies said that they have worked together for many years successfully in ship insurance and ship brokerage, and their partnerships would be intensified and extended to other ship management activities.
Rickmers noted that it would continue to pursue its strategy, particularly in respect of expanding its fleet under third-party management; while processes will be optimised, structures streamlined and profitability increased.
Rickmers Group ceo Ignace van Meenen added: "Currently, we have no plans to merge with other companies. However, if 'strategic options' arise, we will give careful consideration to them."