Rickmers Maritime completes fleet sell-off

The Singapore boxship trust vehicle of Bertram Rickmers has got the go ahead from creditors HSH Nordbank and DBS Bank to push ahead with the sale of its last ships.

Navios will take nine vessels for $54m, following the initial sale of five vessels to the Greek owner in May. Creditors will get $27m back from this latest sale.

“After funding cash burn, operating expenses, and the settlement of costs associated with the winding up of the trust, unsecured creditors are expected to receive total proceeds of $27m,” Rickmers Maritime said in a statement.

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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