Rickmers Maritime has successfully passed the first hurdle to its financial restructuring with it approved by unitholders, however, the much more difficult issue of its bondholders awaits next week.
The final chapter of saga which has seen the Baltic Exchange make landfall on the sunny island of Singapore looks set to be written before the end of the year.
Otto Marine has announced it will delist from Singapore Exchange (SGX) on 7 October 2016 after a privatisation deal was pulled off by the company’s executive chairman Yaw Chee Siew, via his investment vehicle firm Ocean International Capital Limited.
What role did the London Greeks shipping community play in the sale of the Baltic Exchange to the Singapore Exchange (SGX)? Market buzz points to a considerable one.
The shareholders of the Baltic Exchange have voted overwhelmingly in favour of the historic takeover offer by the Singapore Exchange (SGX) for $104m.
Financially strapped Rickmers Maritime has improved its restructuring plan to bondholders in an offer that will significantly dilute the holdings of unitholders, following resistance from bondholders to a previous proposal.
Singapore-listed shipping and offshore marine firms can heave a sigh of relief on hearing Singapore Exchange’s (SGX) latest announcement to review the minimum trading price (MTP) watch-list criteria.