Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Rickmers Maritime cuts newbuilding obligations

Singapore: Rickmers Maritime Trust has cut itself away from seven newbuildings its was due to acquire from its parent Rickmers Group. The Singapore-listed Trust has signed a terms sheet with Rickmers Group subsidiary Polaris Shipmanagement that discharges it from purchasing seven nebuildings worth $917.8m. The trust had been struggling for over a new to finance the newbuildings which include a quartet of 13,100 teu boxships being built at Hyundai Heavy Industries for long term charter to Maersk. The trust will pay Polaris $64m in compensation. The deal requires the approval the trust's unitholders. [26/04/10]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish