MSC Prepares to Handle Rickmers Exposure

  • Business & Finance

Container shipping giant Mediterranean Shipping Company (MSC) is taking steps to prepare for exposure which could emerge from Germany-based Rickmers Holding, after the company submitted an application for insolvency earlier in June.

Following the announced insolvency of the Rickmers Group, MSC, which has three vessels from Rickmers under time charter, said that it is “actively monitoring the situation and is ready to act quickly should a creditor take action against any of the three vessels.”

Of the three ships under charter, the MV John Rickmers, MV Sandy Rickmers, and MV MSC Florida, MSC said the latter two vessels are scheduled for redelivery to Rickmers in September 2017.

The company informed that it is preparing contingency plans and will act as quickly as possible “to minimise the delays to customer’s cargo.”

Nemaly, the shipping giant added that, where MSC has slot charter agreements with other shipping lines who are operating Rickmers-owned vessels and MSC has containers on board, the company “is ready to cooperate with those lines to minimise the delays to cargo if any action is taken against those vessels.”

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