What would have been the biggest consolidation of German shipping assets in a generation will now not take place.
ER Capital Holding and Rickmers Holding said they will not pursue the merger of their ship management divisions, plotted since April.
Following an intensive review, the two parties have jointly decided to ditch combination plans, which would have seen the formation of a fleet of more than 220 boxships, bulkers and multipurpose (MPP) vessels.
Rickmers
