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Ron Widdows to take over from Jan B Steffens as CEO of Rickmers Holding and Rickmers-Linie

After ten very successful years with the Rickmers Group and especially, with
Rickmers-Linie, Jan B Steffens will by 31 March 2012 step down from the twin
positions of CEO of Rickmers Holding and of Rickmers-Linie although he will
continue to serve on the Rickmers Group advisory board.

Ronald D Widdows, former CEO of NOL/APL, is to become the new Chief
Executive Officer of Rickmers Holding and Rickmers-Linie as of 1 April 2012.
Rickmers’ Chief Financial Officer Dr Ignace Van Meenen will act as his deputy.

Announcing this change, Bertram R C Rickmers, Chairman of Rickmers Holding,
"I am pleased to announce that Jan B Steffens, who asked for this change of role, will continue to be with us on the advisory board and take care of special projects associated with the Rickmers Group.

"I am very happy to welcome Ron Widdows to the Rickmers Group. Mr Widdows has over 40 years’ experience in the shipping industry, the last 31 years of which were with APL and Neptune Orient Lines Ltd where he held the position of Group President and CEO."

Mr Widdows is currently the Chairman of the World Shipping Council, which is
based in Washington DC, and is on the Advisory Boards of the US Merchant
Marine Academy in Kings Point NY and the International Transport Forum, based
in Europe. He is a past Chairman of the Transpacific Stabilization Agreement.

Mr Rickmers continued:
"Ron brings a wealth of experience in container shipping and deep relationships
within the industry, with shippers, governments and the financial community to
his new role. The combination of the rich history and strong brand of Rickmers
and the experience of this well-known shipping professional is a very positive
development in the process of further expanding our successful enterprise with a
strong focus on the Asia-Pacific and American markets."

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