Rickmers-Linie takes shares in Wallmann & Co

Rickmers-Linie and the terminal operator Wallmann & Co are to extend their cooperation in the port of Hamburg. Rickmers-Linie will take a share of 25.1 per cent in the Wallmann Terminal with effect from 1 January 2008.

With this partnership, Rickmers-Linie secures for itself terminal capacity for handling breakbulk, heavylift and project cargo in its home territory. Wallmann & Co handles vessels employed in Rickmers' Round-The-World Pearl String Service with twice-monthly sailings to Asia, as well as ships departing to and from the Middle East and India every three weeks. The cooperation with Wallmann dates back to the year 1991, when Rickmers-Linie started its service to the Middle East. Vessels employed in the Pearl String Service have been calling at the Wallmann Terminal since beginning of 2003.

Last month Rickmers-Linie announced that it will inaugurate a joint terminal venture with DP World and Conti-Lines in Antwerp under the name DP World Breakbulk NV effective from 1 January 2008.

"Wallmann has been the preferred terminal for Rickmers-Linie since 2003", explains Wolfgang Harms, Director Operations, Rickmers-Linie. "With this cooperation, we would like to further enhance our partnership and increase the level of service we offer our customers. For many ports, the focus in terms of investment is on facilities for container handling. Our strategy therefore is to safeguard know-how and access to handling facilities for breakbulk and project cargo through joint ventures."

"We are very pleased about Rickmers' plans", comments Hans-Dieter Wilde, Managing Director, Wallman & Co. "This long-term cooperation with one of our main clients means we will be able to plan ahead and make investments in the interesting market of the handling of breakbulk for the benefit of all customers shipping non-containerised cargo. "

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Notes to editor:

With more than 170 years to its name, Rickmers-Linie, based in Hamburg, Germany is one of the world's leading specialists in the global transportation of breakbulk, heavylift and project cargo by sea. The company belongs to Rickmers Group, which offers diversified activities in the fields of liner shipping, shipowning and shipmanagement, investments and real estate as well as maritime related services.

More information about Rickmers-Linie is available at www.rickmers-linie.com. For information about Wallmann please visit www.wallmann-hamburg.de

A downloadable photograph to accompany the press release is available at http://www.dunelmpr.co.uk/Rickmers-photogallery-NEW.html. The caption for the photograph reads:

"Rickmers-Linie will take a share of 25.1 per cent in the Hamburg-based Wallmann Terminal with effect from 1 January 2008."