Jebsen Shipping Partners in Germany has been selected to provide technical management for the first two Bengalmax containership newbuildings in the fleet of Bertram Rickmers' Asian Spirit Steamship Co (ASSC).
It is understood the Jork-based company tied up the contract in competition with several large international managers, as well as medium and smaller-size outfits.
MarLink Project Management joint managing director Christoph Sturm declined to comment on talk in the shipmanagement market and no one was available at Jebsen Shipping to discuss the deal, including whether it had been formally signed.
Jebsen Shipping was well placed, given the fact that the company’s fleet already has several similar-size container feederships, including the 1,118-teu JSP Bora (built 2007) and JSP Levante (built 2006).
Terms are likely to be comparable to those being quoted internationally, sources said. Times have changed in Germany, with the collapse of the KG (limited partnership) system and technical managers can no longer charge a typical income of 4% to 5%.
“Shipmanagement has become more professional and competitive internationally,” one German source said.
That means the equivalent of an estimated $10,000 to $12,000 per month, or around $120,000 per year. The manager no longer necessarily retains the contract for the entire life of a vessel manager, as was the case under the KG system.
Competitive vessels
The Bengalmax series, developed with Germany’s Ingeneur-Technik, was designed to operate in South East Asia and its port restrictions. They are also claimed to be competitive elsewhere in terms of draught, consumption and intake.
It is hoped that the fuel-cost advantage of being equipped with scrubbers will also appeal to charterers once the IMO sulphur cap begins in January 2020.
The first two Bengalmax vessels will be gear-ready but without gear installed. No decision on gear will be made for other ships in the newbuilding series until closer to delivery, when it is hoped charterers will have been found and trading areas clarified.
Apart from the capital cost, installing gear reduces container intake.
Slight delays in delivery of the first pair of Bengalmaxes is being attributed to an optimistic rather than overambitious building schedule by Fujian Mawei Shipbuilding.
The last ship in the 10-vessel series is expected to be delivered in early 2020, although it is unclear at this stage how many of the eight earmarked for Bertram Rickmers’ ASSC will have Jebsen Shipping as third-party technical manager.
Jebsen Shipping's shareholders are the Becker family, Jork-based Reederei Kahrs, Lubeck-headquartered Reederei Boehe (Lubeca Marine) and MF Jebsen Group.
