Monday, April 25, 2016

New Intercontinental Vessel Space Charter Agreement for Freight from US to Arabia

German and Saudi Fleets Cooperate
Shipping News Feature
GERMANY – SAUDI ARABIA – WORLDWIDE – The National Shipping Company of Saudi Arabia (Bahri) and Hamburg based specialist for project and heavy lift liner services Rickmers-Linie, have signed the latest in a long line of space charter agreements we have witnessed in recent months. These ‘vessel sharing’ contracts assist companies to maximise use of their fleets at a time when freight rates are at a very low point.

The agreement covers the ports on the US Atlantic and Gulf Coasts as well as ports in Saudi Arabia, Egypt, Jordan, Kuwait, the UAE, Iraq and the Yemen. It enables the chartering of space from Rickmers-Linie to Bahri Liner and vice versa on vessels operated by the other and authorizes Rickmers-Linie and Bahri Liner to coordinate arrangements with regard to that space in the aforementioned trades. Ulrich Ulrichs, CEO of Rickmers-Linie was plainly pleased with the agreement reached with Bahri Liner and commented:

“With this space charter agreement both Bahri Liner and Rickmers are able to broaden their networks to offer our customers a wider choice of possibilities on the high level of reliability of the liner services of our companies.”

Whereas Rickmers-Linie specialise in break bulk cargoes Bahri has grown from a small shipping firm operating multipurpose vessels to become one of the biggest shipping conglomerates in the world with services now including transport of Crude Oil, Chemical, LPG and Dry Bulk and last month opening new RoRo and container routes out of Tilbury. Matthew Luckhurst, Liner Director of Bahri Liner observed:

"We look forward to the cooperation with Rickmers-Linie, and I am sure that our joint customers will value the added possibilities offered by this space charter agreement.

Photo: Rickmers have a long pedigree, the Helene Rickmers in 1889.