December 03, 2008

Rickmers may acquire warehouses and transport firms in India

BL reported that German shipping major Rickmers Line is eyeing acquisitions of warehouses and road transport firms with trucks and trailers in India. It also wants to get into break bulk terminal handling in ports along with partners.

This would help Rickmers, which handles 500,000 tonnes of cargo in India annually comprising steel coils, power generators, cranes and excavation equipment, get a pie of port handling and hinterland connectivity business.

Mr Jan Boje Steffens MD & CEO of Rickmers Holding said that "We are considering picking up stakes in players operating in warehouses, truck and trailer space. He added that it would like to enter into partnership with other firms for break bulk terminal handling, just like it did in Antwerp.

In October 2007, Rickmers Line entered into a 20:60:20 JV with DP World Antwerp and Conti Lines to operate a common user general cargo terminal in the Port of Antwerp.

Mr Steffens said that "With India, China and Brazil witnessing high level of infrastructure projects, there will be a large project cargo movement. This will result in high the demand for break bulk cargo."