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.
