AsiaContainers
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.