Rickmers, E.R. Capital will not pursue merger of ship management divisions

Rickmers Holding AG and E.R. Capital Holding said they have jointly decided not to pursue the merger of their ship management activities “for the time being.”    Rickmers Holding AG and E.R. Capital Holding said they have jointly decided not to pursue the merger of their ship management activities “for the time being.”
   The two companies had said back in April they were considering such a combination.
   “For many years, the companies have worked together successfully in ship insurance and ship brokerage,” Rickmers said in a statement. “These partnerships are to be intensified and extended to other ship management activities.”
   Rickmers said it will continue to pursue the expansion of its fleet under third-party management.
   ““We aim to continue establishing and expanding customer relationships in an ongoing and focused way,” Rickmers Group CEO Ignace Van Meenen said. “Currently, we have no plans to merge with other companies. However, if ‘strategic options’ arise, we will give careful consideration to them.””