Search results for: Rickmers Maritime

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  • 21 March 2017
    Business & Finance

    German HSH Nordbank has provided Singapore’s containership owner and operator Rickmers Maritime with a deadline- April 15, 2017 – to present a concept that ensures a “higher level of total recoveries” than under a winding-up scenario of the firm.  Following discussions between the duo, HSH Nordbank has not accepted any “specific proposal” of Rickmers Maritime for […]

  • 10 April 2008

    RICKMERS Maritime has finally secured debt financing, via two separate facilities, for just under half of its $1.3bn newbuilding programme. Rickmers Maritime, a Singapore-listed shipping trust, has secured $627m in credit facilities amidst what it described as a ‘demanding credit environment’.

  • 31 March 2017
    Business & Finance

    Rickmers Trust Management, the trustee-manager of Rickmers Maritime, has carried out a voluntary prepayment of loans worth USD 5 million. The payment relates to the senior loan facilities extended by the BNP Syndicate, comprised of BNP Paribas, ING Bank NV, Singapore Branch, The Bank of Nova Scotia Asia Limited, The Hongkong and Shanghai Banking Corporation Limited […]

  • 16 February 2017
    Business & Finance

    Rickmers Maritime might be forced to wind up its business if its efforts to refinance its bank loans are unsuccessful, the trust said announcing its financial results for 2016. Namely, container shipping woes caused by depressed charter market continue to weigh on Rickmers Maritime’s financial performance. The trust posted a net loss of USD 180.1 million in FY2016, sinking […]

  • 15 September 2016
    Business & Finance

    Singapore-listed containership owner Rickmers Maritime will not be able to pay USD 179.7 million of senior debt which is due in March 2017, the company said in an investor presentation filed to the Singapore Exchange. Furthermore, due to adverse market conditions which affected the company’s financial performance, Rickmers Maritime said it will not be able to meet on-going coupon and […]

  • 19 March 2014
    Business & Finance

    Rickmers Maritime, has secured new employment for two of its vessels. The vessels, Henry Rickmers and Richard Rickmers, both 3,450 TEU panamax container vessels, have been chartered to Maersk Line, the world’s largest container shipping company. Henry Rickmers will be delivered to Maersk Line this week and Richard Rickmers two weeks later. The vessels have […]

  • 7 August 2017
    Business & Finance

    The Marshall Islands-based shipping company Navios Maritime Containers has closed the acquisition of the remaining four containerships previously owned by Rickmers Maritime, completing the takeover of the entire 14-vessel fleet. As informed, Navios Containers acquired the 14 boxships for a total purchase price of USD 118 million plus certain delivery and other operating costs. The […]

  • 5 August 2016
    Business & Finance

    Singapore-based Rickmers Trust Management (RTM), a trustee manager of Rickmers Maritime, said that the company recorded a net loss of USD 55.6 million in the second quarter of this year, compared to a loss of USD 15.7 million in the same period last year, a change of 255%. Rickmers Maritime reported lower charter revenue of USD 18 […]

  • 15 May 2017
    Business & Finance

    The sale of fourteen boxships from Rickmers Maritime to shipping company Navios Partners Containers could be halted by an individual noteholder, according to the Singapore-based business trust. Rickmers Maritime said it was served at the close of business on May 12 with a summons from Kwok Kian Tow Peter, who holds the company’s SGD 250,000 […]

  • 17 May 2017
    Business & Finance

    Rickmers Maritime seems to have dodged a bullet and can resume with the sale of its boxship fleet to Navios Partners now that the noteholder who filed an injunction against the deal has withdrawn the application. “The plaintiff has on the 17 May 2017 withdrawn his application and discontinued his court case against the trust […]

  • 12 May 2017
    Business & Finance

    Navios Maritime Containers, a newly formed Marshall Islands company, has agreed to sell some 15 million of its shares to finance the purchase of a 14-vessel container fleet from Rickmers Maritime and further vessel acquisitions. The company is looking to secure up to USD 75 million of gross proceeds through the share sale at a subscription price of USD 5 […]

  • 13 March 2017
    Business & Finance

    German HSH Nordbank has dismissed the debt restructuring proposal of Singapore-based containership owner and operator Rickmers Maritime, the shipping firm’s trustee-manager Rickmers Trust Management (RTM) said in an update.  The proposal is related to the restructuring of SGD 100 million (around USD 71 million) notes due in May 2017. As a result, HSH Nordbank, Rickmers Maritime’s […]

  • 11 May 2017
    Business & Finance

    Greek shipowner Navios Maritime Partners plans to transfer the 14-vessel container fleet acquired from Rickmers Maritime to its affiliate Navios Maritime Containers Inc. The company expects to carry out the transfer at a cost of USD 5 million and an investment of USD 30 million in return for equity. As disclosed, Navios Partners will also […]

  • 26 January 2017
    Business & Finance

    Singapore-based Rickmers Trust Management (RTM), a trustee-manager of Rickmers Maritime, has entered into a memorandum of agreement (MOA) for the sale of Kaethe C. Rickmers, a Panamax containership.  The vessel is securing senior loan facilities extended by HSH Nordbank AG, Singapore Branch and DBS Bank (the HSH Syndicate) to the trust (the HSH Facility). The net proceeds […]

  • 2 May 2014
    Business & Finance

    Rickmers Trust Management Pte. Ltd. (RTM), the Trustee – Manager of Mainboard-listed Rickmers Maritime, announced the financial performance of the Trust for the first quarter ended 31 March 2014. Rickmers Maritime reported a stable set of results in 1Q 2014. Charter revenue decreased slightly by 4% from the US$35.5 million reported for the first quarter […]

  • 1 December 2015
    Business & Finance

    Singapore-based Rickmers Trust Management Pte. Ltd. (RTM), the trustee-manager of mainboard-listed Rickmers Maritime, has fulfilled the conditions required to exit the intercreditor deed the company signed with three bank syndicates in June 2010. Following this move, the company regained the right to cash inflows from equity fund raising and prepayment step-up through excess cash generation. The exit also allows RTM to negotiate […]

  • 22 September 2016
    Business & Finance

    Rickmers Trust Management, the trustee-manager of the container ship owner and operator Rickmers Maritime, has presented a revised restructuring plan in relation to the SGD 100 million (USD 74 million) 8.45% notes due 2017 after taking feedback from its informal meeting with noteholders on 15 September 2016. Soeren Andersen, the Chief Executive Officer of Rickmers Trust Management, said […]

  • 21 April 2017
    Business & Finance

    Greek shipowner and operator Navios Maritime Partners has agreed to acquire the entire container fleet consisting of fourteen ships from Rickmers Maritime for about USD 113 million. “We anticipate acquiring five 4,250 TEU vessels on May 15, 2017. These vessels are employed on charters that have staggered expirations in 2018 and early 2019 at a […]

  • 29 August 2017
    Business & Finance

    Rickmers Trust Management, a trustee-manager of Rickmers Maritime, informed that the trust has been wound up. As the winding up of the trust has been completed, the units of the trust and the notes will no longer exist. Accordingly, the notes will also be delisted from the Singapore Exchange Securities Trading Limited (SGXST) with effect from […]

  • 21 July 2017
    Business & Finance

    Rickmers Trust Management, the trustee-manager of Rickmers Maritime, has received an approval to delist from the Singapore Exchange as part of its efforts to wind up the Trust. The move comes on the back of the company’s inability to make a reasonable exit offer to unitholders, whether by way of a voluntary liquidation of the Trust’s assets and […]

  • 22 February 2016
    Business & Finance

    Singapore-listed containership owner Rickmers Maritime recorded a net loss of USD 129.6 million in the fourth quarter of 2015 against a net profit after tax of USD 11.2 million in the corresponding period of 2014. The plunge in profit came as Rickmers Trust Management, the trustee-manager of Rickmers Maritime, recognised non-cash impairment charges of USD 128.4 million in 4Q2015 in light […]

  • 5 November 2015
    Business & Finance

    Singapore-based Rickmers Trust Management Pte. Ltd. (RTM), the Trustee-Manager of Mainboard-listed Rickmers Maritime, reported charter revenue of USD 27.4 million and net profit of USD 9 million in the third quarter of 2015, down by 17 and 14 percent respectively when compared to 2014. The lower revenue is attributed mainly to lower market charter rates […]