Wednesday, November 23, 2016

PROBLEMS AT RICKMERS MARITIME

Rickmers Maritime warns trust could be wound up

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The trustee-manager of Rickmers Maritime warned last night that the trust could struggle to continue as a going concern as a default on an interest payment looms.
Rickmers Trust Management said the grace period of five business days from the November 15 due date on the S$4.26m interest has lapsed.
Rickmers Maritime is also in default under terms of the agreements of bank loans extended to the shipping trust and its subsidiaries.