Statement from Rickmers Group concerning recent events

September 21, 2016

"In view of recent developments and media reports please find a statement from Rickmers Group which has also been published on www.rickmers.com:

Hanjin Shipping bankruptcy: limited impact on Rickmers Group charter volume

The Hanjin Shipping bankruptcy only affects the Rickmers Group’s contracted charter volume to a limited extent. The Group has three 4,250 TEU vessels chartered out to Hanjin Shipping; these charters expire within the next five months, one of those already in September 2016. The charter volume resulting from those contracts amounts to USD 11.9 million and therefore represents less than one percent of the Group’s overall contracted charter volume, which amounted to USD 1.1 billion for the first half of 2016.

Recent Rickmers Maritime debt-exchange specifically concerns Singapore-listed bond amounting to SGD 100 million

The plans of the Rickmers Group’s Singapore-based subsidiary, Rickmers Maritime, for a debt exchange specifically concern the bond issued by Rickmers Maritime and listed in Singapore (ISIN NO. SG6QC6000001), not the bond issued by Rickmers Holding AG and listed in Frankfurt (ISIN: DE000A1TNA39). While Rickmers Maritime is a fully consolidated subsidiary in the Rickmers Group’s consolidated financial statements, financially it is a self-contained, independently acting company due to its listing on the Singapore Stock Exchange."

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Shortly after the Second World War, in the year 1946. Oskar Brunoni founded his own company, to represent foreign shipping lines in Switzerland.
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