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            december 17, 2017

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Indiaexportnews.com

MSC readies to face ship seizures from Rickmers creditors

  19.06.2017    

Swiss-Italian shipping giant, Mediterranean Shipping Co (MSC), has plans to deal with its customers' cargo should the three ships it has chartered from bankrupt Rickmers be seized by creditors, according to Shipping Gazette.
MSC's 2M partner Maersk Line has eight 13,500-TEU ships on long-term charter from Rickmers that could also be arrested by bunker suppliers, ports and service providers to protect their interests.
Rickmers Group entered self-administered insolvency on June 2. The vessels affected are the 1,854-TEU John Rickmers, 1,216-TEU Sandy Rickmers and 4,444-TEU MSC Florida, reports London's Loadstar.
The time charter on the latter two expires in September, while the John Rickmers is not scheduled to be returned until March 2018.
MSC says it is "actively monitoring the situation" and is "ready to act quickly should a creditor take action against any of the three vessels".
MSC also said it had slot charter arrangements with other carriers that operate Rickmers-owned vessels and has containers on board these ships.
"MSC is ready to cooperate with those lines to minimise the delays to cargo if any action is taken against those vessels," it said.
In addition to Maersk, other shipping lines operating chartered vessels from Rickmers include Zim, ANL, Seago, X-Press Feeders and StreamLines.



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