Rickmers Holding today revealed an EUR 200m ($257m) bondsale is underway with the aim of boosting its firepower.

Bertram Rickmers told investors in a statement: “The shipping industry is in a phase of consolidation, and we are looking to play an active role in this market consolidation.”

Its move, just a few weeks after spin-off Rickmers Maritime launched a $80m rights issue, will see the company issue a five-year bond to be listed in Frankfurt.

Ron Widdows, CEO of Rickmers Holding, said: “We have over the last two years built new capabilities, strengthened our management team and begun to position the Group to take advantage of the opportunities that will come as the shipping industry begins to move towards recovery.”

Widdows, who says the group has remained profitable during the troubled time for the wider industry, added: "A structural change is taking place in the way shipping companies will be able to finance their businesses.

“The traditional sources of equity and debt financing that existed for many years, particularly in the German shipowning community that built a large percentage of the world container fleet, are no longer available, so positioning to attract new investors, and access new sources of financing is critical.”

The bond, which will carry a coupon of between 8.5% and 9.125%, is open to subscribers between 27 May and 7 June.

Headquartered in Hamburg the Rickmers group booked a profit of EUR 22.5m in 2012, the statement says.

Rickmers has been keen to embrace the finance sourcesavailable to owners today.

Late last year he teamed up with private equity powerhouse Oaktree Capital in a movewhich could yield up to 16 eco newbuildings.