Rickmers Maritime sells entire fleet for US$113m
The deal may give noteholders, but not unitholders, some form of recovery
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Singapore
DISTRESSED business trust Rickmers Maritime has managed to sell its entire fleet of 14 containerships at a less-than-expected US$113 million. None of that sum is expected to go to unitholders.
The buyer, New York-listed Navios Maritime Partners L P (Navios Partners), on Thursday agreed to buy out the Singapore-listed trust's entire fleet, the trust said in a filing to the Singapore Exchange on Friday.
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