German shipowning and management group Zeaborn is continuing its aggressive expansion acquiring Erck Rickmers ship management company ER Schiffahrt.

Bertram Rickmers and Zeaborn Group have come together to save the shipmanagement part of insolvent Rickmers Group and aims to rescue the other parts of the business.

The winding-up of Singapore-listed Rickmers Maritime Trust has been completed.

Zeaborn Group is acquiring five heavy lift vessels from bankrupt Rickmers Group for an undisclosed sum.

The creditors of bankrupt Rickmers Maritime have approved the sale of its remaining nine ships for a total consideration of $54m to Greece’s Navios group.

MSC it is actively monitoring the situation in regard to three vessels it has on time charter from bankrupt Rickmers Group.

Rickmers Group has filed for insolvency on Thursday, making it the most high profile casualty in Germany’s shipping sector, after its key lender HSH Nordbank rejected a restructuring plan a day earlier on Wednesday.

German shipowner Rickmers Group is to file for insolvency after HSH Nordbank denied approval for planned restructuring.

Rickmers Group has warned bondholders that the company will face insolvency if they do not vote in favour of financial restructuring plans.

A disgruntled individual bondholder of bankrupt Rickmers Maritime has dropped a suit aimed blocking the sale of the trust’s fleet to Navios Maritime Partners.

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