Rickmers Maritime is being wound-up after failing to agree a financial restructuring.
Rickmers Maritime auditors warn of another $360m of impairments against the value of its fleet if it liquidates as the Singapore shipping trust fights for survival.
Beleaguered Singapore shipping trust Rickmers Maritime says it is evaluating two alternative restructuring plans after noteholders voted against its original plans in December.
Singapore's ASL Marine has issued a consent solicitation statement to noteholders on Thursday as the company seeks approval to extend the maturity of the notes for three years.
Embattled Singapore-listed shipping trust Rickmers Maritime says it is unable to show it is a going concern as it misses bond coupon payment.