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Rickmers-Linie back in black

August 12 - Rickmers Group has presented its half year results for 2015, posting a 6.6 percent year-on-year improvement in revenue to EUR289.6 million (USD324.5 million), while operating profit surged 35.4 percent to EUR137.4 million (USD153.96 million).

Rickmers Group said the increase in the operating result is due to the successful implementation of a sustainable cost-management programme, in particular at Rickmers-Linie - the group's heavy lift, breakbulk and project shipping division.

The positive result was also partly due to favourable exchange-rate effects following the rise in the value of the US dollar, said Rickmers Group.

The company said Rickmers-Linie returned to profit in Q1 2015 - the first time the division turned a profit in four years. In June 2015 Rickmers-Linie established two new partnerships: a connecting carrier agreement with Swire Shipping; meanwhile Nordana, which manages a fleet of breakbulk and heavy-lift vessels, nominated Rickmers Japan as general agent for the Nordana Project & Chartering division in Japan.

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