Final day’s trading on the SGX for bust Rickmers Maritime

Final day’s trading on the SGX for bust Rickmers Maritime

Today is the final day of trading for Rickmers Maritime on the Singapore Exchange.

The failed boxship leasor of Bertam Rickmers will be delisted tomorrow morning, 10 years after its IPO, back when shipping trusts were all the rage in the Lion Republic.

Earlier this month the trust completed its fleet sell off. Creditors are braced for big losses from their exposure to Rickmers Maritime with the trust saying its unsecured creditors will share $27m — or just over 11 cents on the dollar.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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