• 2017 July 13 15:23

    Rickmers Trust announces the sale of its nine vessels to Navios

    Rickmers Trust Management Pte. Ltd., in its capacity as trustee-manager (the “Trustee-Manager”) of Rickmers Maritime (the “Trust”) refers to the announcements dated 21 April 2017, 14 May 2017 and 25 May 2017 in relation to the proposed sale of 14 vessels owned by the Trust to Navios Partners Containers Inc. and Navios Partners Containers Finance Inc. (collectively “Navios”) pursuant to the winding up of the Trust and the completion of the sale of five vessels previously secured under the BNP Facility, the Company press release said.

    The Trustee-Manager wishes to announce that the HSH syndicate (comprising HSH Nordbank AG and DBS Bank Ltd) has approved the sale of the remaining nine vessels secured under the HSH Facility, for a total consideration of US$54 million plus an amount to support settlement of operational cash deficits to closing. The sales of these nine vessels are expected to be completed in parts from 12 July 2017. As the vessels are secured to the HSH syndicate, with total proceeds below the loan outstanding due and payable to the HSH syndicate, the proceeds from the sale of these nine vessels will be paid in full to the HSH syndicate as part settlement of the HSH syndicate loan.

    After funding cash burn, operating expenses, and the settlement of costs associated with the winding up of the Trust, unsecured creditors are expected to receive total proceeds of approximately US$27 million. This represents recovery of 11.4% pari passu to noteholders as well as senior lenders with remaining loans outstanding after repayment from the sales of their respective secured vessels.

    Pursuant to the winding up of the Trust, the Trustee-Manager will engage its Independent Auditor, PricewaterhouseCoopers LLP, to perform certain agreed upon procedures in relation to reviewing the Trust’s final distribution statements, including the final cash recoveries to the unsecured creditors of the Trust.

    The Trustee-Manager will advise the specific amount of recoveries to unsecured creditors via their respective agents and trustees and the distribution of such recoveries is expected to be made in the third quarter of 2017.




2017 September 25

18:24 BV joins global industry alliance (GIA)
18:00 Patrol boat of Project 03160 built for RF Navy’s Baltic Fleet by Pella Shipyard completes sea part of state trials (photo)
17:37 Fincantieri delivers "Viking Sun" in Ancona
17:31 APM Terminals improves productivity, costs and flexibility with a win-win labor strategy
17:12 Intermodal terminal operations to be moved to Hisingen in December
16:47 FueLNG completes first commercial LNG bunkering in Singapore
16:32 General Dynamics secures $5bn U.S. Navy’s contract for ballistic-missile submarine
16:20 Murmansk Region Governor: energy infrastructure for MTH project to be completed by the end of 2019
15:41 Large ASW ship Vice-Admiral Kulakov provided security of Indian tanker’s passage through Gulf of Aden
15:13 Russian and Chinese military seamen practiced rescuing a ship in distress
14:50 Krylov Centre at the 13th International Exhibition & Conference RAO/CIS Offshore 2017
14:25 RF Navy’s ASW ships Onega and Naryan-Mar repelled simulated enemy’s air attack in the White Sea
14:01 Average wholesale prices for М-100 HFO up to RUB 12,711 in RF spot market
13:38 Zelenodolsk shipyard launches high-speed passenger ship of Project А145Е for UAE customer
13:04 Damen Shipyards Yichang launches first DT8000 SD, Damen Tanker 8000 Shallow Draft (photo)
12:32 Transocean announces retirement of six floaters
11:30 Fincantieri to build a next-generation ship for Cunard
11:03 The 28th meeting of the Tokyo MOU Port State Control Committee held in Vladivostok
11:00 ABS approves GMS self-elevating drilling unit design
10:29 Asia’s Maritime Technology Cooperation Centre up and running
10:27 Golden Ocean sells six Ultramax vessels
09:55 Cargo transportation by inland water ways of Russia down to 74.5 mln t in 8M’17
09:33 Brent Crude futures price down 0.21% to $56.3, Light Sweet Crude – down 0.28% to $50.52
09:16 Baltic Dry Index up to 1,502 points

2017 September 22

18:04 ESL Shipping's second LNG-fueled dry cargo vessel was named Haaga
17:47 Black Sea Fleet frigate Admiral Essen returned to Sevastopol
17:22 Port of Gdansk throughput up 4% to 25.5 mln t in Jan-Aug'17
16:58 Pella Shipyard (Leningrad Region) launched the harbor tugboat of Project 04690 (graphics)
16:35 Connecting Europe Conference takes place in Tallinn
16:00 Throughput of port Kaliningrad in Jan-Aug'17 grew by 15% to 9.02mln t
15:33 Wan Hai Lines awarded “Container Shipping Line of The Year India-Far East Trade Lane” for the sixth time in seven years
15:19 Throughput of port Vyborg up 16% to 935,600 t in 8M’17
14:55 Throughput of port Vysotsk up 4% to 11.74 mln t in Jan-Aug'17
14:33 Neptun shipyard in Rostock finishes first engine room module for AIDAnova
14:20 Mooring trials of nuclear-powered icebreaker Arktika scheduled for early 2018
14:02 Polarcus awarded broadband 3D project in Asia Pacific
13:43 USCG to present Amver Awards to Dutch ship owners at Europort 2017
13:32 MOL issues "Safety, Environmental and Social Report 2017"
13:17 Throughput of port Primorsk in 8M’17 down 7% Y-o-Y to 40.12 mln t
13:02 PhilaPort container throughput up to 54,185 TEUs in August 2017
12:55 Baltiysky Zavod launches Sibir, first serial nuclear-powered icebreaker of Project 22220 (photo)
12:42 Meyer Werft to build cruise ship for Saga Cruises
12:01 Singapore will host 18th Ballast Water Management Conference on 7-8 February 2018
11:40 Throughput of port Ust-Luga up 12% to 67.54 mln t in 8M’17
10:28 Throughput of Big Port St. Petersburg up 11% to 35.26 mln t in 8M’17
10:09 Damen displays leading position in global OPV market
09:54 Brent Crude futures price up 0.16% to $56.52, Light Sweet Crude – up 0.28% to $50.69
09:35 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)
09:17 Baltic Dry Index up to 1,470 points

2017 September 21

18:01 Nuclear missile cruisers of RF Navy's Northern Fleet conducted bilateral exercise with firing
17:38 CPC has accepted three million tons of crude oil from the Russian fields on the Caspian shelf
17:10 FESCO delivered hydraulic equipment weighing over 500 tons to the Krasnoyarsk power plant
16:43 Ukraine’s water transport carried 0.4 mln passengers in Jan-Aug'17, up 40.2%, Y-o-Y
16:19 Vympel Shipyard dispatched two fast patrol boats of Project 12150, Mangust, to Sakhalin (photo)
16:02 Rolls-Royce and Inmarsat sign ship energy management agreement
15:26 MABUX: Global bunker market turns in the rebalancing direction
15:24 Cargo transportation by Ukraine’s water transport down 11.4% to 3.6 mln t in 8M’17
15:02 Wärtsilä marine gear boxes to be produced by Siemens
14:41 Black Fleet frigate Admiral Essen returns to Sevastopol from Mediterranean
14:02 Finnlines to lengthen four of its "Breeze series" vessels